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ONWARD Medical (Euronext: ONWD, OTCQX: ONWRY) has established a sponsored Level 1 American Depositary Receipt (ADR) program in the United States through the Bank of New York Mellon (BNY), with ADRs now trading on the OTCQX® Best Market under symbol ONWRY.
The medical technology company, which develops spinal cord stimulation therapies for movement restoration, aims to enhance US investor access through this program. One ONWARD ADR represents one ordinary share and is denominated in US dollars, making it easier for American investors to trade.
The ADR program and OTCQX upgrade are designed to broaden ONWARD's shareholder base and increase stock liquidity. BNY will serve as the depositary bank and transfer agent for the ADR program, with US investors able to access financial disclosure and Real-Time Level 2 quotes on otcmarkets.com.
