Media and Games Invest SE makes important step onto the US capital markets with Carsted Rosenberg as OTCQX Sponsor
As of 20 April 2022 Media and Games Invest SE (MGI, ISIN: MT0000580101; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) has been welcomed by OTC Markets Group for trading on OTCQX in the United States. This marks an important step for Media and Games Invest into the US capital markets. The admission to trading on OTCQX will improve access for US-Investors to MGI-shares and expands trading in the MGI shares. The MGI shares are now traded on the OTCQX Best Market under the ticker symbol MDGIF.
The MGI shares are dual-listed on Nasdaq First North Premier Growth Market Stockholm and on the Frankfurt Stock Exchange (Scale Segment). This enables MGI to leverage the existing stock exchange reporting in Stockholm and Frankfurt to make the company information instantly available in the U.S through OTCQX and OTCIQ. For an issuer to qualify to be traded on OTCQX, the company must be listed on a qualified stock exchange outside the Unites States and must meet the required financial reporting standards, corporate governance and demonstrate compliance with domestic security laws in its home jurisdiction. On that basis, non-US companies can obtain admission to trading in the Unites States whilst being listed abroad and reporting to its home-country regulator.
Carsted Rosenberg as OTCQX Sponsor
A qualified non-US issuer seeking admission to trading of its shares on OTCQX needs to have a letter of introduction from an approved OTCQX Sponsor. An OTCQX Sponsor will usually be an investment bank or a law firm and must satisfy certain criteria to be approved by the OTC Markets Group. Sponsor eligibility is limited to the most qualified law firms with high levels of capital markets expertise. Carsted Rosenberg is an approved sponsor for OTCQX and OTCQB and acted as sponsor for MGI and assisted the issuer with the application and guided MGI through the admission process together with the OTC Markets Group to ensure a successful market entry in the United States.
The MGI shares traded on the OTCQX Best Market are sourced from the Nasdaq First North Premier Market in Stockholm, Sweden or from the Frankfurt Stock Exchange (Scale Segment), Germany. The increased access to trading in the MGI shares by US-based investors during US-trading hours and in US Dollar is expected to have a positive effect on the overall trading volume of the MGI shares.
We see increasing interest in MGI from US investors and are excited to now be traded on OTCQX providing easier access to MGI shares for US investors. US investors can now trade the MGI share in US dollars and during US hours by cross trading our shares on a fully regulated market in the US., says Paul Echt, CFO of Media and Games Invest.
OTC Markets Group is an operator of regulated markets for trading in 12,000 US and international securities. OTC Markets provides international companies with the opportunity to make their shares more easily accessible to US investors by facilitating trade in foreign shares in US Dollar during US trading hours via OTC Markets. With the admission to trading on OTCQX, US investors can now find the current financial disclosures and real-time level 2 quotes for MGI using the US ticker symbol MDGIF on www.otcmarkets.com. The trading on OTCQX marks an important step for MGI in increasing trading volume and responding to demand from US-based investors.
Who can I contact to move this forward?
If you want to know more or want to obtain U.S. market entry via an OTCQX quotation, please contact any of Brad Furber, Michael Rosenberg or Andreas Tamasauskas at Carsted Rosenberg to discuss how we can move your transaction forward. As an OTCQX Sponsor, we are here to help you.
To learn more about the OTCQX Market, contact VP, International Corporate Services Joe Coveney at firstname.lastname@example.org for Nordics and VP, International Corporate Services Jonathan Dickson at email@example.com for DACH. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com. OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
About Carsted Rosenberg
Carsted Rosenberg is a specialist international law firm with a focus on cross-border banking & finance, capital markets, mergers & acquisitions and corporate & commercial matters. Carsted Rosenberg provides high-end legal counsel services in connection with large-scale cross-border transactions with a particular focus on the Danish market. Our clients rely on us for pragmatic advice and transactional excellence. We specialise in matters that require transactional expertise, considerable cross-border experience and a high degree of proficiency and efficiency.