Back in April Netcompany joined the #OTCQX Best Market as announced on LinkedIn. Here is some of the reasoning for trading on OTCQX by CFO Thomas Johansen:
- “We join the OTCQX Market with a clear ambition to generate wider interest and recognition with U.S.-based investors. As of today, our U.S. investor base accounts for 10% of our shareholders, and with the cross-trading on OTCQX we expect to create further long-term value through a broader US investor base and eventually higher volumes in our shares,” says Thomas Johansen, CFO of Netcompany. (https://www.globenewswire.com/en/news-release/2024/03/25/2851493/0/en/OTC-Markets-Group-Welcomes-Netcompany-Group-AS-to-OTCQX.html)
Like many Danish companies, they were on the bottom-tier OTC PINK Limited Market (where there are 40+ Danish companies on PINK) and wanted to upgrade to the top-tier OTCQX Market to improve their peer group, increase visibility of their material news, and make it easier for all US investors to trade their ordinary share and Unsponsored ADR, eliminating the compliance restrictions found on the OTC PINK Limited Market.
This was also SEB’s first OTC Sponsorship out of Denmark and fourth overall (the last three were from the Norwegian Market). SEB views OTC Sponsorship as an extension of their investment banking offerings and can assist Danish companies looking to access more US investors by trading on our market.