Alpha Growth PLC (LON:ALGW) (OTCQB:ALPGF) said it has qualified for trading on the OTCQB Market in the United States operated by OTC Markets Group Inc (OTCQX:OTCM) and will commence trading there on Wednesday under the ticker symbol ‘ALPGF’.
The financial services specialist in the growing Senior Life Settlement (SLS) asset class added that its ordinary shares will continue to trade on the London Stock Exchange’s Standard List market under the symbol ‘ALGW’.
In a statement, Gobind Sahney, CEO of Alpha Growth, said: “This is another milestone in Alpha’s development as we drive increased awareness in the US of our BlackOak Alpha Growth Fund. We are marketing to over 30,000 Registered Investment Advisors who wish to learn more about the fund’s general partner and follow Alpha’s growth and invest in its shares.”
The listing on the OTCQB Market will allow Alpha’s ordinary shares to be traded by broker-dealers in the United States. Alpha was sponsored by B. Riley Securities, Inc., a registered broker-dealer with FINRA. Initially, B. Riley will act as the company’s market maker in the US. Pello Capital continues to be the company’s corporate broker in the UK.
Speaking of the strategic step made by Alpha, Jonathan Dickson, VP of International Corporate Services at OTC Markets, said: “We are delighted to welcome Alpha Growth Plc to the OTCQB Market. With its primary listing remaining on the LSE Standard List, the OTCQB Market cross trading facility will provide investors in the United States with the ability to access Alpha’s Ordinary Shares in U.S dollars during U.S market hours.”
The OTC Market supports international companies seeking to strengthen visibility and transparency in the US public market. Trading on the LSE Standard List and on the OTCQB Market will enable Alpha to efficiently build global investor awareness and provide US investors with a seamless trading facility, enabling investors to trade through the broker of their choice more easily.
The company said it continues to be confident that through continuing low-interest rates, continued volatility in the equity markets and the non-correlation of SLS assets, it will be able to continue its strategies, and “take advantage of further opportunities as and when they arise in the longevity asset sector”.
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