LeoVegas, on March 25, 2021, announced that its shares will be available for trading on the OTCQX Markets in the USA. Interested companies and individuals can trade the shares in USD. According to LeoVegas, the move to list on the OTCQX came as a result of increased demand from multiple US investors. Furthermore, this will open up the US capital market.
On March 25, 2021, LeoVegas’ shares will start trading on the OTCQX US Markets. According to a statement from the leading gambling group, the iGaming company will trade as an F share and it will use LEOVE as the ticker symbol.
LeoVegas is already listed on the Nasdaq Stockholm Main Market list and the move to start trading on the OTCQX comes as a complement to the company. Moreover, this move gives interested American investors a chance to invest in the company by trading its shares. This will also open up the company to global trading, allowing interested parties across the world to invest in the company’s shares.
Las Vegas Group CEO, Gustaf Hagman, in a statement, acknowledged the increased interest in the company from investors as an investment and as a company. According to Mr. Hagman, at least 12% of the company’s shareholders originate from the USA. The CEO further added that the move to start trading on the OTCQX will give the company a chance to be more accessible not only to the American investors but also other interested entities looking to share in LeoVegas’ growth journey.
Companies trading on the OTCQX have a better shot at accessing the US capital market in a cost-effective and convenient manner. On top of that, companies already listed on qualified international stock exchange markets such as the Nasdaq Stockholm where LeoVegas Gaming Group is listed, have a chance of increasing the exposure and accessibility to the US capital market. This is through the company’s reporting and the rules that govern the Nasdaq Stockholm market.
To trade on the OTCQX, companies must adhere to set financial standards, best practices governing the corporate scene, and strictly adhere to the securities laws.
OTC Markets act as an intermediary between the US stock market and other traditional stock markets. This marketplace is split into three categories, the OTCQX, OTCQB, and the Pink Markets in descending order. With the OTC Markets, both sellers and buyers have access to more efficient and better informed financial markets. Companies, on the other hand, will be able to inform of the quality they disseminate for all markets.