Sydney, Australia (PRWEB) December 23, 2011
NSX listed International Petroleum Limited, an oil and gas exploration company with assets in Russia and Kazakhstan, has announced that it has established a sponsored Level 1 American Depository Receipt (“ADR”) program with BNY Mellon and the ADR is scheduled to commence trading today on the OTCQX International marketplace in the United States.
Each ADR represents 20 of the Company’s ordinary shares and the ADRs will trade on OTCQX. The Company’s shares will continue to trade on the National Stock Exchange of Australia (NSX).
OTCQX is the top tier OTC market, providing International Petroleum with exposure to U.S. institutional and retail investors. International Petroleum represents NSX’s first quotation on OTCQX and establishes the process for further quotations in North America.
Emlyn Scott, CEO of the National Stock Exchange, said:
“The OTCQX International market is reserved for companies that are listed on a qualified stock exchange, which represent the premier stock exchanges around the world. We are pleased that International Petroleum has been accepted to OTCQX, demonstrating the size and quality of the companies we list. We look forward to dual listing more NSX companies in the US and working closer with OTCQX in the future.”
For further information please contact:
National Stock Exchange of Australia:
Companies Manager + 61(3) 9001 0304 ian.craig(at)nsxa(dot)com.au
Notes to editors:
About the National Stock Exchange of Australia:
The National Stock Exchange of Australia (NSX) is Australia’s second largest listing stock exchange. It is an Australian Market Licence holder specialising in listing growth companies.
NSX currently has 130 securities listed on its market with a combined market capitalization in excess of $2.5 billion. NSX has 18 participating brokers and 32 nominated adviser firms.
NSX also offers an outsourced hosting solution to a number foreign stock exchanges utilising its leading edge technology and market expertise.
Further information on the National Stock Exchange of Australia can be found at http://www.nsxa.com.au.