Anteris Technologies (ANTTY) Commences American Depository Receipt Program
Anteris Technologies Ltd, (Anteris or the Company) (OTC: ANTTY) reported today that it has established a sponsored Level 1 American Depository Receipt (ADR) program in the United States. The ADR program has been set up to improve U.S. investor access to Anteris ordinary shares.
The ADRs representing Anteris ordinary shares will trade on the over-the-counter (OTC) market. The ADR ticker symbol is ANTTY and Deutsche Bank has been appointed as the Depositary Bank for Anteris Technologies’ ADR program.
The Company’s ADR program does not involve the issuance of new ordinary shares or the raising of new capital. ADRs will be tradeable by licensed U.S. brokers in the ordinary course of trading on the OTC market.
ADRs are a financial instrument that allow U.S. investors to hold shares of a foreign company without the need for cross-border or cross-currency transactions. Each ADR issued by Deutsche Bank represents an interest in one Anteris ordinary share that has been deposited with Deutsche Bank. ADRs are denominated in U.S. dollars.
The program intends to simplify and streamline U.S. investors' access to investing in Anteris by eliminating the need to deal with foreign currencies or the complexities of trading on foreign stock exchanges.
Anteris CEO, Wayne Paterson, said:
“Establishing an ADR program through a partnership with Deutsche Bank will increase the Company's visibility and recognition among U.S. investors, analysts, and financial media. This exposure will raise awareness about the Company and our leading DurAVR™ technology with key stakeholders in the world's largest capital market. The program will broaden our shareholder base, increasing trading volumes and liquidity and attracting more institutional investors. The program will also further support our commercial strategy in delivering greater value to our shareholders.”
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