Trading of Yongnam Holdings' ADRs in the US market begins today
STEEL fabricator Yongnam Holdings has set up a American depositary receipt (ADR) programme shares to allow its shares to trade more easily internationally.
The ADRs, which commence trading on the OTCQX today, will enable the company to diversify its shareholder base, raise trading liquidity and improve access to new capital markets.
OTCQX International is a segment of the over-the-counter marketplace reserved for high-quality non-US companies listed on a qualified stock exchange in their home country.
Trading of the ADRs is fully electronic and investors can access the securities through all major online and full-service brokerage firms in the US, including Schwab, E*TRADE and Fidelity.