(Alliance News) - Zoetic International PLC on Monday said its shares will start trading on the over-the-counter market in the US from Tuesday.
The investment company said its shares will cross-trade onto the OTCQB Venture Market, which is designed to enable developing international companies to be publicly traded in the US.
As a London-listed company, obtaining a listing on the OTCQB has been a cost-effective process for Zoetic, it said. Zoetic was formerly known as Highlands Natural Resources PLC.
Trading on the US market will have no impact on the existing listing of Zoetic shares in London and no new shares will be issued as part of the listing, the company added.
"It has been our ambition for some time to facilitate investment from the US. Being the country where the majority of our operations are based, we have already attracted some interest and this week's move onto the OTC considerably simplifies the process for US investors, enabling them to trade in our shares in US dollars during US market hours," explained Chief Executive Nick Tulloch.
Zoetic shares were trading 9.4% higher in London on Monday at 12.58 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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