OTC Markets Group Welcomes Netcompany Group AS to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. announced that Netcompany Group AS has upgraded to trade on the OTCQX Best Market from the Pink market. Netcompany Group AS, an IT services company, is the first Danish company with a market cap over $1 billion to join OTCQX. The company aims to attract more U.S. investors and increase trading volumes through this move.

NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Netcompany Group AS (Nasdaq Copenhagen: NETC; OTCQX: NTCYF), an IT services company, has qualified to trade on the OTCQX® Best Market. Netcompany Group AS upgraded to OTCQX from the Pink® market.

Netcompany Group AS begins trading today on OTCQX under the symbol “NTCYF.” Netcompany Group is the first Danish company with a market cap over $1 billion to join OTCQX. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

“We join the OTCQX Market with a clear ambition to generate wider interest and recognition with U.S. based investors. As of today, our U.S. investor base accounts for 10% of our shareholders, and with the cross-trading on OTCQX we expect to create further long-term value through a broader US investor base and eventually higher volumes in our shares,” says Thomas Johansen, CFO of Netcompany.

SEB Securities, Inc. acted as the company’s OTCQX sponsor. This is SEB’s first OTCQX sponsorship out of Denmark and the fourth OTCQX sponsorship transaction overall.

About Netcompany Group AS
Netcompany is a leading European end-to-end IT services company with almost 8,000 skilled, creative employees working from 10 countries. Founded in 2000 in Copenhagen, Netcompany helps European public and private sector customers accelerate delivery of ambitious, complex digital transformation journeys.  

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What market did Netcompany Group AS upgrade to trade on?

Netcompany Group AS upgraded to trade on the OTCQX Best Market from the Pink market.

What is the symbol for Netcompany Group AS on the OTCQX Market?

Netcompany Group AS trades under the symbol 'NTCYF' on the OTCQX Market.

Why is it significant that Netcompany Group AS joined OTCQX?

It is significant as Netcompany Group AS is the first Danish company with a market cap over $1 billion to join OTCQX, aiming to attract more U.S. investors and increase trading volumes.

Who acted as the OTCQX sponsor for Netcompany Group AS?

SEB Securities, Inc. acted as the OTCQX sponsor for Netcompany Group AS, marking SEB's first OTCQX sponsorship out of Denmark and the fourth overall.

What are the benefits of trading on the OTCQX Market for companies?

Companies trading on OTCQX can provide transparent trading for U.S. investors, utilize home market reporting, meet high financial standards, follow best practice corporate governance, and comply with applicable securities laws.