Artist’s impression of NewSat’s Jabiru-1 satellite.
Australian satellite company, NewSat Limited, recently announced that the Company’s ordinary shares have commenced trading on the OTCQX in the United States, by way of American Depository Receipts (ADR) under the ticker symbol “NWTLY”. One NewSat Depository Receipt (NWTLY ADR) is equivalent to 100 NewSat ordinary shares. NewSat will continue to trade on the Australian Securities Exchange (ASX) under its existing code “NWT”.
OTCQX International is a segment of the OTCQX marketplace reserved for high-quality, non-US companies that are listed on a qualified international exchange. This will complement NewSat’s listing on the ASX, and US investors can access NewSat’s current disclosures at www.otcmarkets.com.
The OTCQX is an extension of the Company’s existing Level 1 American Depository Receipt (ADR), established in 2004. It provides an online platform for US investors to purchase NewSat shares in their time zone and will increase NewSat’s exposure to US investment communities.
The Bank of New York Mellon (BNY Mellon) will serve as NewSat’s Principal American Liaison (PAL) acting as a bridge for NewSat to the OTCQX and providing NewSat professional guidance on OTCQX requirements.
Many companies around the world trade on multiple exchanges. Internationally, Adidas Group, BNP Paribas, Allianz, and Zurich all trade on the OTCQX. Australian companies currently trading include Fortescue Metals Group Ltd, Linc Energy Ltd, and Gulf Keystone Petroleum Ltd.
In commenting on trading on the OTCQX, NewSat Founder and CEO, Adrian Ballintine said:
“Given the recent global interest in NewSat, we are delighted to qualify for trading on OTCQX. Trading on the OTCQX will complement our ASX listing and enable us to provide our US investors with relevant information and timely news to assist in the analysis, value and trade of the Company securities.”
