NEW YORK, July 15 /PRNewswire-FirstCall/ -- Pink OTC Markets Inc. (OTCQX: PINK), the financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market, today announced that Grupo Financiero Banorte, S.A.B. de C.V. (OTCQX: GBOOY, BMV: GFNORTE), a leading Mexico-based financial group, has chosen to have its American Depositary Receipts (ADRs) traded on the OTC market's highest tier, OTCQX®.
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Grupo Banorte began trading today on the OTC market's highest tier, OTCQX International Premier. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.
"We are pleased to welcome Grupo Financiero Banorte to OTCQX," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "OTCQX provides Banorte with a transparent marketplace of quality companies providing financial information disclosure and efficient trading for their U.S. investors."
The Bank of New York Mellon, which acts as Depositary for Grupo Banorte's ADR program, will serve as Banorte's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
About Grupo Financiero Banorte, S.A.B. de C.V.
Banorte is the largest Mexican bank controlled by Mexican shareholders, and is the fourth most important financial group in Mexico in terms of total assets. It has more than 1,100 branches and 4,600 ATMs providing national coverage. Banorte initiated a sponsored level 1 ADR program in June 2009, ever since, a total of almost 2 million ADRs were issued, and ADR price and market capitalization of the program increased substantially. Now Grupo Banorte's ADRs will trade in the United States on OTCQX under the symbol "GBOOY", where each ADR will represent 5 ordinary shares.
Grupo Banorte's ordinary shares are also listed on the Bolsa Mexicana de Valores under the symbol "GFNORTEO" which is one of the BMV's most liquid stocks; it has attracted interest by international institutional funds seeking to have exposure to the Mexican financial system. This ADR program complements the bank's efforts to increase its presence in the world's main financial markets. As a proof of this, also since June 2009, Grupo Financiero Banorte S.A.B.'s common shares were listed in the Madrid Stock Exchange through the Latin American Stock Market "Latibex" and trading under the symbol "XNOR"; the shares are also equivalent to 10 ordinary GFNORTE shares, and were included in the FTSE Latibex All Shares Index and the FTSE Latibex Top Index as part of this listing.
Grupo Financiero Banorte S.A.B. de C.V. operates in the banking sector through various subsidiaries in Mexico and the USA. The Company's main activities and products include commercial and retail banking, corporate, government and SME lending, private and investment banking, brokerage and securities trading, insurance, annuities and pension funds, leasing and factoring, remittances. Visit Banorte's website at: http://www.banorte.com.
About OTCQX
The OTCQX Marketplace is the premier tier of the U.S. OTC market. Investor-focused companies use the quality controlled OTCQX listing platform to offer investors transparent trading, superior information, and easy access through their regulated U.S. broker-dealers. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formerly available only on a U.S. stock exchange. For more information and to view a full list of OTCQX-listed companies, visit www.otcqx.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. (OTCQX: PINK) operates the leading electronic interdealer quotation and trading system for over 9,000 securities not listed on a U.S. stock exchange. Pink OTC Markets segments these securities into three tiers: the quality-controlled OTCQX marketplace, the U.S. registered and reporting OTCQB marketplace, and the speculative trading Pink Sheets marketplace. These three tiers constitute the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Our products and services promote market transparency, improve price discovery, facilitate regulatory compliance, and increase the quality of issuer disclosure, to the benefit of all OTC market participants. To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.otcmarkets.com, www.pinkotc.com and www.otcqx.com or contact us at [email protected].
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SOURCE Pink OTC Markets Inc.
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