Dotz launches American Depositary Receipts Program
February 21, 2024
BY Dotz Nano
Dotz Nano Limited, a leading developer of innovative climate and industrial nanotechnologies, announced it will sponsor a Level 1 American Depositary Receipts (“ADR”) program to increase Dotz’s exposure and appeal to North American investors and partners. The Bank of New York Mellon (“BNYM”) has been appointed depositary bank for the program.
Dotz CEO Sharon Malka stated: “We are excited about this ADR Program as it has broad appeal among US investors and will enable Dotz to proceed on its path of pursuing high accessibility to the US capital markets. With investing in pure-play industrial carbon capture companies mostly undertaken in private markets, , our new ADR program provides US ESG-conscious investors the opportunity to gain exposure to carbon-related investments..”
Scheduled to commence trading in the United States (“US”) on February 20, 2024 Dotz’s ADR will be listed on the US over-the-counter (“OTC”) market under the symbol DTZNY. Each Dotz ADR represents 100 existing ASX-listed ordinary shares.
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An ADR is a trading instrument denominated in US dollars that allows US investors to buy shares in non-US companies without the need for cross-border or cross-currency transactions. The establishment of the ADR program is not a new offering of securities, therefore no additional shares will be issued or any capital raised.
Dotz’s ADR will complement its existing primary listing of ordinary shares on the ASX.
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