OTC Markets Group Welcomes TGS ASA to OTCQX

Rhea-AI Summary

OTC Markets Group announced that TGS ASA, an energy data and intelligence provider, has upgraded from the Pink market to the OTCQX Best Market. This move allows U.S. investors to trade TGS ASA shares under the symbols 'TGSNF' and 'TGSGY'. This upgrade is significant for TGS ASA as it aims to enhance investor recognition and engagement in the U.S., offering transparent trading and meeting high financial and corporate governance standards.

CFO Sven Borre Larsen highlighted that this milestone will provide long-term value to shareholders by increasing transparency, accessibility, and trading volumes.

Positive

• TGS ASA upgraded from Pink to OTCQX Best Market.
• Enhanced recognition and engagement among U.S. investors.
• Commitment to high financial standards and best practice corporate governance.
• Increased transparency and accessibility for U.S. investors.
• Potential for increased trading volumes and long-term shareholder value.

Negative

• None.

NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced TGS ASA (Oslo Bors: TGS; OTCQX: TGSNF, TGSGY), a company that provides energy data and intelligence to companies and investors across energy markets, has qualified to trade on the OTCQX® Best Market. TGS ASA upgraded to OTCQX from the Pink® market.

TGS ASA begins trading today on OTCQX under the symbols “TGSNF” and “TGSGY.” 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.

Sven Borre Larsen, CFO at TGS, commented, “Entering the OTCQX Market marks an important milestone for TGS ASA. By joining this market, we aim to enhance recognition and engagement among a broader base of U.S. investors, also making it easier for a larger group of U.S. investors to access our shares. This move underscores our commitment to maintaining high financial standards and best practice corporate governance. We are confident that cross-trading on OTCQX will provide additional long-term value to our shareholders by increasing transparency, accessibility and trading volumes, ultimately contributing to the sustained growth and success of TGS ASA.”

About TGS ASA
TGS provides energy data and intelligence to companies and investors across energy markets. We offer the world's largest global energy data library, including seismic data, magnetic and gravity data, multi-beam and coring, digital well log and production data, wind energy data, data to identify CCS opportunities, and other types of renewable data. And, with the recent acquisition of Magseis Fairfield, we are now also the world's leading OBN provider. In addition, we also offer specialized services such as advanced processing and analytics, data management and cloud-based data applications and solutions.

Contact:
Sven Børre Larsen, Chief Financial Officer
Email: investor@tgs.com

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 is the significance of TGS ASA upgrading to OTCQX?

Upgrading to OTCQX allows TGS ASA to offer transparent trading and meet high financial standards, enhancing recognition and engagement among U.S. investors.

What are the trading symbols for TGS ASA on OTCQX?

TGS ASA trades on OTCQX under the symbols 'TGSNF' and 'TGSGY'.

How does the OTCQX upgrade benefit TGS ASA shareholders?

The upgrade provides long-term value by increasing transparency, accessibility, and trading volumes, contributing to the sustained growth and success of TGS ASA.

Where can U.S. investors find financial disclosures and quotes for TGS ASA?

U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for TGS ASA on www.otcmarkets.com.

What standards must companies meet to qualify for the OTCQX market?

Companies must meet high financial standards, follow best practice corporate governance, and comply with applicable securities laws to qualify for the OTCQX market.