NEW YORK, Feb. 28, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Magnesita Refratarios SA (BM&FBovespa: MAGG3; OTCQX: MFRSY), a global leader in the manufacture and sale of refractory solutions and industrial minerals, has chosen to have its American Depositary Receipts (ADRs) trade on OTCQX®, the best marketplace with qualified companies.
Magnesita 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 Magnesita, our 10th Brazilian company, to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Magnesita joins the many global companies that have chosen OTCQX to provide their U.S. investors transparent trading and convenient access to their news and financials. We look forward to working with Magnesita as they continue to expand the company's visibility in the U.S. market."
Deutsche Bank serves as Magnesita's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Magnesita Refratarios SA is a global leader in the manufacture and sale of refractory solutions and industrial minerals, dedicated to mining, producing and trading an extensive line of refractory materials. Its products are used mainly by the steel, cement and glass industries. At present, it operates 28 industrial plants and mines in Brazil, Germany, China, United States, France, Belgium, Taiwan and Argentina, with a capacity to produce over 1.4 million tons per year of refractories.
Magnesita will trade in the U.S. on OTCQX under the symbol "MFRSY," where each ADR represents two ordinary shares.
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.