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Retail conglomerate Koninklijke Ahold N.V. yesterday began having its American Depositary Receipts (ADRs) traded on the over-the-counter (OTC) market’s highest tier, OTCQX International Premier, according to New York-based Pink OTC Markets, Inc. the financial information and technology services company that operates the top electronic quotation and trading system in the United States.
“Companies like Ahold use OTCQX to expand their access to U.S. investors, engage them with quality disclosure of their financials, and provide trading transparency,” explained Pink OTC Markets president and CEO R. Cromwell Coulson, President and CEO of Pink OTC Markets.
In its capacity as depositary for Ahold’s ADR program, Citi will serve as the company’s Principal American Liaison (PAL) on OTCQX, meaning that it will be responsible for providing guidance on OTCQX requirements.
Ahold, whose U.S. banners include Stop & Shop, Giant-Landover and Giant-Carlisle, trades in the United States on OTCQX under the symbol “AHONY,” with each ADR will representing one ordinary share.
Investor-focused companies use the quality-controlled OTCQX platform to offer investors transparent trading, information and easy access through regulated U.S. broker-dealers. The OTCQX platform offers companies and their shareholders a level of marketplace services once available only on a U.S. stock exchange.