Tirupati Graphite PLC (LON:TGR) said it has applied to the OTC Markets Group for its shares to be traded on the OTCQX Markets in a move it said will make its shares more widely available to North American investors.
The graphite and graphene materials developer said trading on the US OTC market will have no impact on its existing shares on the London Stock Exchange.
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"The cross-trading of our shares on the OTCQX Market gives us access to a deeper pool of capital from US dollar denominated investors in North America and exposes us to the US investment community, a region that is showing extensive interest from investors in our areas of activity. Additionally, listing on the OTCQX will enhance the company's visibility in North America where we have many potential customers for our graphite, graphene, and advanced materials all-encompassing products,” Tirupati chief executive Shishir Poddar said in a statement.
“The potential US customer base for Tirupati includes industry players in the energy storage and electric vehicles, thermal management and flame retardants, composites and advanced materials sectors, and more, and for the new age materials we are developing, and we aim to increase visibility in the US, which is a massive addressable market for our full suite of green products. Dual trading on the OTC Markets represents an important step for the company both for diversification of its share register and for increasing visibility for buyers. We will update the market on the progress of our application, ticker code and commencement of trading of Tirupati shares on OTCQX in due course," the CEO added.