NewSat Ltd. Begins Trading on OTCQX®
NEW YORK, Nov. 25, 2013 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that NewSat Ltd. (OTCQX: NWTLY; ASX: NWT), Australia's largest pure-play satellite communications company, has chosen to have its American Depositary Receipts (ADRs) traded on OTCQX®, the best marketplace with qualified companies.
NewSat began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, undergo management reviews 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 thrilled to welcome NewSat to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "With its current ability to provide coverage to 75% of the globe set to become a global satellite operator with the launch of Jabiru-1, NewSat is a fitting complement to the many global growth companies on the OTCQX marketplace. We look forward to working with NewSat as it seeks to increase its visibility with U.S. investors."
NewSat Founder and CEO Adrian Ballintine said, "Given the recent global interest in NewSat, we are delighted to qualify for trading on OTCQX. Trading on OTCQX will complement our ASX listing and enable us to provide our U.S. investors with relevant information and timely news to assist in the analysis, valuation and trading of the company's securities."
BNY Mellon will serve as NewSat's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
NewSat is Australia's largest pure-play satellite communications company, delivering internet, voice, data and video communications via satellite for governments, corporations and private enterprises. The company's teleport infrastructure provides a full range of managed satellite communication services. NewSat will be expanding its satellite capabilities beginning with the launch and operation of Jabiru-1, Australia's first commercial Ka-band satellite.
NewSat trades in the U.S. on OTCQX under the symbol "NWTLY," where each ADR represents 100 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.