Zephyr Energy to add its shares to the OTCQB market

Zephyr Energy Plc (LON:ZPHR) said it filed an application with the OTC Markets Group for its ordinary shares to be publicly cross traded on the OTCQB Market (OTCQB) based in the United States

The OTCQB is often referred to as the ‘Venture Market’. It is a leading market for both American and international companies in their entrepreneurial and development stage, Zephyr highlighted.

It is a verified market for US investors and it helps companies build value and enhance liquidity in their shares, the company added.

Zephyr expects its OTCQB listing will provide enhanced investor benefits, especially for those in the US as they will have easier access. The listing process on the OTCQB is expected to take around six weeks.

It won’t directly impact the shares trading in on London’s AIM market.

“We believe dual trading on the OTC and AIM Markets represents another important step for the Zephyr corporate platform,” said Colin Harrington, Zephyr chief executive.

“Dual trading, combined with our recent pledge to achieve carbon neutrality across our operational footprint, will serve to diversify the share register and increase exposure to a broader range of investors, whether U.S.-based or ESG-focused. 

“This action comes on the back of an already increased level of interest from US investors as a result of the recent expansion of our operational footprint in the US.”

Harrington added: “Over the last 18 months, we’ve worked hard to complete Zephyr’s corporate transformation, and following our admission to trade on the OTCQB, I believe our company platform will now be optimally structured to benefit from the considerable operational activity planned for the coming months.”

Story by ProactiveInvestors