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Trustco Group joins largest global securities trading platform in the U.S – OTC Market

Trustco Group joins largest global securities trading platform in the U.S – OTC Market

Trustco Group became the first Namibian company to qualify to have its American Depository Receipts trade on OTC Market Group’s Best Market platform, according to an announcement on Thursday.

OTC Market is the operator of financial markets for 10,000 U.S. and global securities and will see Trustco trade under the symbol ‘TSCHY’ where each American Depositary Receipts represents 100 ordinary shares.

Trustco joins South African Stock Exchange listed company, Impala Platinum Holdings Ltd.

According to Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group, trading on OTC Markets Group provides an efficient U.S. market experience that reflects the prestige of the Johannesburg market, allowing Trustco to efficiently execute it’s U.S. strategy.

Trustco Group Holding’s Managing Director, Dr Quinton van Rooyen in a statement said for the past quarter of a century, the company earned and solidified its reputation for sustainable long-term wealth creation for all its shareholders.

“The group is recognized for looking beyond Namibia’s borders for growth and development opportunities for its unique brand, characterized by innovation and diversification. The company is delighted to begin trading on OTC Market Group’s Best Market platform joining over 400 established, investor-focused U.S. and international companies.

Van Rooyen added that this will help increase future share value for all Trustco stakeholders through an efficient U.S market experience.

J.P. Galda & Co. acted as the Trustco’s OTC Market Group sponsor, while Karim Group LLC acted as the company’s US corporate advisor.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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