IDEX Biometrics shares are now trading on the Nasdaq. As of the morning of March 1, 2021, investors can now buy shares of the company under the ticker “IDBA”.
IDEX announced its plans to enter the Nasdaq last week. The company has done so through ‘American Depository Shares’, or ADSs – each unit of which contains 75 Ordinary Shares of IDEX. The company has not issued new shares; it has simply repackaged existing shares for sale on the American securities market.
Commenting on the move now that IDEX has made its Nasdaq debut, CEO Vince Graziani called it “a significant milestone” in the company’s overall growth.
“We believe this dual listing will increase our visibility in the U.S. marketplace, while also improving our visibility and liquidity with a broader base of prospective shareholders,” he said. “This listing also strengthens our position to further enhance market awareness of our innovative biometric products and solutions.”
The move comes amid growing excitement about the emergence of biometric payment cards, IDEX’s primary area of focus. The company’s fingerprint biometrics technology is already in place in payment cards approved for use in China, and IDEX’s management have been working steadily to establish relationships with important ecosystem partners in the payments industry.
Before the Nasdaq debut, IDEX Biometrics shares were already trading on the Oslo Børs, a market operated by the Oslo Stock Exchange, and on the OTCQB Venture Market exchange in the US.
March 1, 2021 – by Alex Perala