OTC listing update - Depository trust company status approved
This morning our 2020 Energy Pick Of The Year Invictus Energy (ASX: IVZ) confirmed that it has received approvals for depository trust company status (DTC) in the OTC markets in the USA.
The DTC approvals will allow real time electronic clearing and settlement, streamlining the trading process for IVZ shares in the USA.
The key advantages of today’s news is as follows:
- Trades and settlements are in USD.
- Trading in the North American time zone
- IVCTF is the same class of shares traded on the ASX.
All of this should mean the process of buying and selling IVZ shares in the US is simplified to the point where it becomes more accessible to investors in North America.
Generally, OTC listings and subsequent DTC status improve liquidity and bring more eyeballs to a company.
We suspect a good portion of US investors are very much aware of the gas supply crisis playing out right now and with IVZ getting ready to drill its elephant scale prospect in Zimbabwe, we think today’s news could see some more trade volumes come through from US investors.
The company last traded for US$0.14/per share which translates to a ~20.5c at the current USD/AUD exchange rate.
The company is trading under the ticker “IVCTF” and trading activity can be viewed via the following link: www.otcmarkets.com/stock/IVCTF/overview.
