The German energy technology group, Siemens Energy, is expanding its US investor reach by pursuing a “listing light” on American markets. As reported by Handelsblatt, both companies confirmed that trading in the shares of the Dax conglomerate will begin this Wednesday in the top-tier segment, OTCQX, of the OTC Markets platform.
This move provides Siemens Energy access to US individual and smaller institutional investors who might find the infrastructure required to purchase shares directly on the Frankfurt Stock Exchange too complex. Instead, these investors can now trade American Depositary Receipts (ADRs) for the company’s shares via OTC Markets.
A spokesperson for Siemens Energy noted that the United States is already their most significant individual market, pointing out that a large portion of their shareholders are currently based there. By joining OTC Markets’ top segment, the certificates traded on Siemens Energy shares will become easier to access and invest in for specific institutional investors in the US. Furthermore, the spokesperson explained that the listing will increase the company’s visibility among potential new investors.
Jonathan Dickson, Vice President of OTC Markets, informed Handelsblatt that Siemens Energy is the eighth German group to be listed in the OTCQX segment, joining companies such as Adidas, BASF, Bayer, DHL, K+S, Lufthansa, and Deutsche Telekom. He also added that their platform is currently engaging with other German companies interested in listing on their markets.
