Home > Press > Nanostart AG Commences U.S. Trading of ADRs
Abstract:
Nanostart AG (fwb:NNS), the Frankfurt-based nanotechnology investment company, announced the commencement of trading today of its American Depositary Receipts (ADRs), which will now trade in the United States on the OTCQX electronic trading system under the ticker symbol NASRY.
Nanostart AG Commences U.S. Trading of ADRs
Frankfort, Germany | Posted on October 21st, 2010
With this step, Nanostart ADRs can now be traded on the world's largest capital market, the United States, like any other U.S. security: during U.S. market hours, with pricing and settlement in U.S. dollars, and with normal custody in U.S. brokerage accounts.
ADRs are securities issued by a U.S. depositary bank which certify ownership of the shares of an international company held in safekeeping by the bank. Because they are U.S. domestic securities, ADRs are a convenient alternative to direct ownership of foreign equities. The depositary bank for the ADRs of Nanostart AG, which is a Sponsored Level 1 program, is Bank of New York Mellon. Ten Nanostart ADRs correspond to one Nanostart share.
"The admission of our ADRs for trading on the OTCQX offers many of the benefits of a full U.S. exchange listing, but without the associated high costs and legal burden," explained Marco Beckmann, CEO of Nanostart AG. "Through the ADR program, U.S. investors gain access to foreign equities through the domestic U.S. market system. The U.S. capital market opens a whole new dimension for international companies."
"Companies use OTCQX to expand their access to investors, engage them with quality disclosure of their financials, and provide trading transparency to stimulate liquidity," said R. Cromwell Coulson, President and CEO of Pink OTC Markets Inc., parent of the trading system. "We are pleased to welcome Nanostart to OTCQX."
The ADR program does not constitute an offering of shares by Nanostart AG, nor may these ADRs be offered publicly in Germany. Investors may obtain real-time financial and trading information about Nanostart ADRs under www.otcqx.com as well as www.otcmarkets.com.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within Canada, Australia or Japan.
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About Nanostart
Nanostart AG, headquartered in the German financial capital of Frankfurt, is the world's leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary and venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government. Some U.S. peer companies which are likewise engaged in nanotechnology or other high-tech investing are Harris & Harris Group Inc. (TINY 4.29, +0.03, +0.70%), Arrowhead Research Corp. (ARWR 0.10, +0.03, +2.99%) and Safeguard Scientifics Inc. (SFE 13.74, +0.25, +1.85%).
For further information about the company, please visit www.nanostart.de.
About OTCQX
The OTCQX marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX companies, visit www.otcqx.com.
About Pink OTC Markets
Pink OTC Markets Inc. (otcqx:PINK) operates the leading electronic interdealer quotation and trading system for over 9,000 securities not listed on a U.S. stock exchange. Pink OTC Markets segments these securities into three tiers: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheetsmarketplace. These three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. The products and services promote market transparency, improve price discovery, facilitate regulatory compliance, and increase the quality of issuer disclosure, to the benefit of all OTC market participants. To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit the websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at
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Contacts:
Nanostart AG
Public Relations
Dr. Hans Joachim Durr
phone: +49 69-21 93 96 111
fax: +49 69-21 93 96 122
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