MetaOptics establishes Level 1 American Depositary Receipt programme with J P Morgan
Semiconductor optics company MetaOptics launched a sponsored Level 1 American Depositary Receipt programme on the OTCQX market appointing J P Morgan as depositary bank
MetaOptics Ltd, a leading semiconductor optics company, has launched its Level 1 American Depositary Receipt (ADR) programme with J.P. Morgan in the United States. The ADR Programme allows American Depositary Shares (ADs) to trade on OTCQX, the highest-level market of the Over The Counter (OTC) Markets. J.P. Morgan has been appointed as the depositary bank for the ADR Programme.
The launch does not involve any capital raising or issuance of new shares by the company, and existing shareholders will continue to trade the company's ordinary shares on the Catalist board of the SGX Stock Exchange. The ADR Programme is not expected to have a significant impact on the company's existing shareholders. The programme places MetaOptics within a broader ecosystem of Singapore-listed companies accessible to U.S. investors, including SGX Group.
The Company's expansion in the U.S., including the establishment of its maiden front-end semiconductor fabrication line with 12-inch DUV immersion photolithography equipment, aims to broaden the investor base and provide a platform for U.S. investors to participate in the company's growth story.
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