Aladdin Healthcare Technologies SE (ETR:NMI) said its shares have begun trading on the Pink Open Market segment of the OTC market in the US under the symbol ‘ALDNF’.
The developer of artificial intelligence-based healthcare diagnostics and drug discovery applications said its Pink Open Market listing is only the starting point for the firm, saying it intends to move to the OTCQB or OTCQX segments this year once it meets specific criteria. To be upgraded to the higher tiers of OTC, companies have to meet stricter financial standards and demonstrate compliance with applicable securities laws.
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Aladdin added that the US listing will improve the liquidity of its shares and increase their attractiveness and accessibility to capital markets at a more international level. The firm said its shares will also continue to trade on the Düsseldorf and Frankfurt Stock Exchanges.
“Our listing on the US stock market is an important and strategic step towards the successful implementation of our growth strategy. It enables our company to be more accessible to international investors and it increases the liquidity of our shares. We are looking forward to expanding our business worldwide”, Aladdin chief executive Wade Menpes-Smith said in a statement.