Uranium miner Paladin Energy has announced its upgrade from trading on the Pink Market to trading on the OTCQX Best Market in the US.
Trading started on the OTCQX Best Market on June 2.
The company will retain its primary listing on the ASX.
Trading on the OTCQX allows for greater access to retail and small institutional investors, the company states.
With investors being able to trade and settle in US hours and dollars, it allows for greater visibility and accessibility of the company, it adds.
Trading of Paladin’s shares on the OTCQX allows the company to access new capital and to expand its shareholder base in the US, without the duplicative regulatory requirements of a US exchange listing by using Paladin’s home country disclosure in English in lieu of Securities and Exchange Commission reporting, the company notes.
Paladin owns the Langer Heinrich mine, in Namibia, as well as exploration assets in Australia and Canada.