Magnis Energy Technologies Ltd (ASX:MNS, OTCQX:MNSEF) shares have been greenlit for electronic trade on the US over-the-counter market.
The securities, which change hands under the ticker ‘MNSEF’, have been cleared by the Depository Trust Company (DTC), meaning they can be traded, settled and cleared in real-time.
DTC manages the electronic clearing and settlement of publicly traded companies, and only eligible securities can be cleared and settled through the firm.
As a result, trading through the DTC can be a cost-effective clearing and settlement option, because it simplifies and accelerates how investors and brokers finalise their trades and allows MNSEF securities to trade over a much wider selection of brokerage firms.
In a statement today, Magnis said DTC eligibility represented the company’s commitment to enhancing its trading visibility and accessibility for a wider range of US investors.
Magnis chairman Frank Poullas said of the greenlight: “Enabling US investors to easily and efficiently invest in Magnis and one of the largest independent lithium-ion battery plants in North America is an exciting moment for the company.
“The company looks forward to broadening its exposure in the United States.”