Effective 2nd November, 2017, AMSC's ordinary shares are available for trading in the US on OTCQX under the symbol ‘ASCJF’.
The OTCQX International Tier of the OTCQX Best Market is designed for established, investor-focused international companies that have met high financial standards, follow best practice corporate governance, are current in their home country financial reporting and have been sponsored by a professional third-party advisor.
OTCQX is considered by the US SEC as an "established public market" for the purpose of determining the public market price of a security. Trading on OTCQX indicates that a company is committed to providing a transparent market for its investors and maintaining high financial and operating standards, AMSC said.
AMSC's CEO, Pål Magnussen, said: "AMSC is a leading pure play Jones Act tanker owner with modern assets contracted on long-term leases. As US crude oil production continues to increase, we are seeing renewed interest in the Jones Act tanker market, an important component in US oil majors' transportation logistics.
“We are pleased to create a new channel for increasing transparency and awareness of AMSC and the Jones Act tanker market through our OTCQX quotation. The quotation will also facilitate trading in our stock in US dollars to make it easier for US investors to invest in our company," he said.