KUALA LUMPUR, May 17 (Bernama) -- Techtronic Industries Co Ltd (TTI), the global leader in cordless Professional Tools, DIY Tools and Outdoor Power Equipment, announced it has qualified to trade on the OTCQX Best Market, previously trading on the Pink market.
In a statement, TTI said it began trading its American Depositary Receipts (ADRs) on May 16 on the OTCQX Market under the symbols “TTNDY” and “TTNDF”, while its ordinary shares will continue to trade on The Stock Exchange of Hong Kong Limited (SEHK).
TTI Chief Executive Officer, Joseph Galli said the company was delighted to begin trading on the OTCQX market.
“Hong Kong remains the domicile of TTI’s primary exchange listing, but this new development will add greater liquidity to both our ordinary shares and our ADR programme, while making the stock more accessible to a broader global investment community,” he said.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their United States (US) investors.
For companies listed on a qualified international exchange, streamlined market standards enable them to utilise their home market reporting to make their information available in the US.
According to OTC Markets, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws to qualify.
-- BERNAMA
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