MetaOptics Establishes ADR Program on US OTCQX Market
Singapore-based semiconductor optics company MetaOptics Ltd has established a sponsored Level 1 American Depositary Receipt (ADR) programme on the US OTCQX market. The programme aims to broaden the company's investor base in the United States.
MetaOptics Ltd, a semiconductor optics company headquartered in Singapore, has established a sponsored Level 1 ADR programme in the United States. Through this programme, American Depositary Shares (ADSs) will trade on the OTCQX market, the highest tier operated by OTC Markets Group. J.P. Morgan has been appointed as the depositary bank for the programme.
The ADR programme does not involve any capital raising or the issuance of new shares. MetaOptics' ordinary shares will continue to be traded on the Catalist board of the SGX Stock Exchange. The company believes the programme will facilitate access to the US market, broaden its international shareholder base, and provide US investors with a more convenient channel to trade the company's securities.
MetaOptics has recently increased its presence in the US, including participation in technology conferences and roadshows. The company is also establishing its first front-end semiconductor fabrication line in the US for the mass production of metalenses and modules. The ADR programme is expected to support this US expansion and commercialisation strategy.
Executive Chairman Thng Chong Kim stated that the ADR programme provides an additional platform to introduce and increase awareness of the company's technology and solutions. It also offers US investors access to the company's shares, which may enhance liquidity and international visibility.