IDEX Biometrics has made its debut on the OTCQB Venture Market exchange, trading under the ticker symbol IDXAF.
Operated by OTC Markets Group, the OTCQB is an over-the-counter stock trading market in which securities that aren’t listed on major stock exchanges are traded through a network of dealers. As IDEX explained in a statement announcing its debut on the OTCQB Venture Market, the market “offers companies the benefits of being publicly traded in the U.S. with lower cost and complexity than listing on the large U.S. exchanges.”
“The OTCQB market informs investors and potential investors that IDEX meets or exceeds the standards of reporting and transparency,” explained IDEX Biometrics CFO Derek D’Antilio. “In addition, it was important to us to provide investors in the U.S. easy and efficient access to trade IDEX’s shares. Trading on the OTCQB market serves as a gateway to the U.S. capital markets for IDEX.”
The news comes after multiple instances of major IDEX Biometrics share purchases by company executives earlier this summer. It also arrives just ahead of IDEX’s third quarter update, with results scheduled to be posted on November 13th. The company’s update is expected to highlight its recent activities in the emerging biometric payment cards market, among other notable developments.
In its announcement, IDEX indicated that US-based investment bank B. Riley FBR “acted as the Company’s sponsor for this process.”
November 11, 2019 – by Alex Perala