Commercial International Bank Begins Trading on OTCQX®
NEW YORK, Dec. 19, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Commercial International Bank Ltd. (OTCQX: CIBEY; Egyptian Exchange Main Market: COMI.CA), a leading financial institution in Egypt, has chosen to have its American Depositary Receipts (ADRs) trade on OTCQX®, the best marketplace with qualified companies.
Commercial International Bank ("CIB") begins trading today on OTCQX International Premier, a segment of the OTCQX marketplace reserved for world-leading non-U.S. companies that are listed on a qualified international exchange and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome CIB, the first Egyptian company to join our OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group Inc. "With CIB's move to OTCQX, U.S. investors now have ready access to the company's news and financial disclosure as well transparent trading information making it easier to analyze, value and trade their ADRs. We look forward to working with CIB's management team as they continue to grow the company's visibility with U.S. investors."
BNY Mellon serves as CIB's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
CIB provides a range of financial services such as asset and liability products, securitization, direct investing, wealth management, and treasury to enterprises, other institutions, households and high-net-worth individuals. The bank, through its subsidiaries, offers life insurance, leasing and factoring, investment banking, brokerage and research.
CIB will trade in the U.S. on OTCQX under the symbol "CIBEY," where each ADR represents one ordinary share.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace with Qualified Companies; OTCQB®, The Venture Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The Open Marketplace with Variable Reporting Companies. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link® ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.