Yesterday, Bango launched on OTCQX – but what is OTCQX and what does it mean for Bango investors?
OTC Markets Group is an American financial market providing price and liquidity information for almost 11,000 over-the-counter securities. Bango has launched on ‘OTCQX Best Market’, meaning Bango meets the highest disclosure & reporting standards.
Many of the world’s largest businesses including Adidas, Deutsche Telecom & Tesco have launched on OTCQX. Improved accessibility, visibility & liquidity are just some of the reasons to do so.
Launching on OTCQX means investors based in the United States can buy and sell Bango shares much more easily. A significant number of smaller U.S. funds are unable or unwilling to buy directly into an overseas market and many private investors are also virtually locked out of trading shares of foreign issuers unless those companies have a U.S. ticker symbol that can be bought in U.S. dollars during U.S. market hours. By launching on OTCQX, US investors can now view a dollar denominated price and trade Bango during US market hours under the ticker BGOPF – we are essentially “switching the lights on” and providing improved access for U.S. investors.
This in no way changes our UK listing. Bango remains an AIM listed company, trading under the ticker symbol BGO. The shares traded through OTCQX still settle in London and should therefore have a positive impact on Bango’s liquidity to the benefit of all Bango shareholders. It does demonstrate our commitment to global investors as set out in the announcement to report results in US Dollars for the global investor market.