TRUSTCO PLANS TO UPGRADE ADR PROGRAM TO ENHANCE PRESENCE IN US CAPITAL MARKETS
Windhoek, Khomas, Namibia, 8th Aug 2024 – Trustco Group Holdings Limited (Trustco) has announced plans to upgrade its American Depositary Receipts (ADR) program to Level 3, in order to expand its presence in the United States of America (US) capital markets. Trustco’s ADR program began in 2014 as a Level 1 program through Bank of New York Mellon, and was enhanced in 2019 with a real-time Level 1 sponsored ADR program on the OTCQX Best Market.
With this upgrade, the Company will have greater access to North American investors. Additionally, Level 3 ADRs can be listed on major US stock exchanges such as Nasdaq or the New York Stock Exchange (NYSE), providing higher visibility and further liquidity for Trustco’s securities. This level of ADR can be freely traded by both retail and instituti...