Idex Biometrics joins OTCQB Venture Market to access U.S. capital markets
Idex Biometrics has been approved by the OTCQB Venture Market and begun trading on the exchange under the ticker symbol IDXAF, to supplement its cash flow through access to U.S. capital markets.
Trading in the company’s shares closed at $0.74 on the Oslo Bors on Friday.
According to Idex, listing on the OTCQB Venture Market provides the benefits of being publicly traded in the U.S., but with lower cost and complexity than listing on other exchanges. International companies must be up to date with local market filings and complete an annual verification and management certification process for eligibility on the exchange.
“The OTCQB market informs investors and potential investors that IDEX meets or exceeds the standards of reporting and transparency,” comments Idex Biometrics CFO Derek D’Antilio. “In addition, it was important to us to provide investors in the U.S. easy and efficient access to trade IDEX’s shares. Trading on the OTCQB market serves as a gateway to the U.S. capital markets for IDEX.”
Idex was sponsored in the process by U.S.-based investment bank B. Riley FBR.
The new listing comes at a transition point for Idex, with the company increasingly focused on the biometric card market, and a restructuring program announced just last week.
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