South Australian based company Bionomics (ASX: BNO, OTCQX: BNOEF) has announced that its ordinary shares have commenced trading on the US OTCQX marketplace.
The company, which is led by former AusBiotech Chair Dr Deborah Rathjen, said in a statement that the move will provide new and existing US investors with immediate access to trade its ordinary shares in US dollars during US market hours.
"It also enables the company to maintain its commitment to providing regular disclosure in line with the reporting requirements of Bionomics' primary market, the Australian Securities Exchange (ASX)," it said in a statement.
OTCQX offers transparent trading in established, investor-focused US companies and global companies listed on a qualified stock exchange in their home country.
Trading through OTCQX allows Bionomics ordinary shares that trade on the ASX to also trade and settle in the US.
"US investors now have direct market access on the OTCQX under the symbol BNOEF to hold Bionomics ordinary shares on deposit in their US brokerage account, removing transaction costs associated with holding shares offshore," the company said.
Other companies traded through OTCQX include Roche, Danone, Volkswagen , BNP Paribas and Allianz.
According to Dr Rathjen, "We have seen growing interest from US investors in Bionomics joining the OTCQX marketplace as a logical move that will provide new opportunities for the company."