Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) has been approved to start trading on the OTCQB Venture Market in the United States, in a move intended to enhance access for US-based investors and improve liquidity.
On the OTC, the shares will trade under the ticker symbol 'BHSPF'.
The company highlighted that it will be able to engage with US investors via American-facing platforms while maintaining its UK regulatory disclosures.
Trading on the OTCQB does not affect the company’s listing on AIM, where its shares will continue to trade under the symbol 'CEG', it noted.
And no new shares have been issued as part of the process.
"Since closing our farmout agreement with Chevron for the AREA OFF-1 block in Uruguay, we have seen a steady rise in interest in our company from North American investors – a natural development given the geographic location of our assets and the identity of our principal partner,” chief executive Eytan Uliel said.
“Over the coming months we will be making full use of the benefits that come from being admitted to trading on the OTCQB, alongside our regular engagement activities within the UK."