Fortescue Metals Group Ltd Joins OTCQX
NEW YORK, April 30, 2012 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), the company that operates the world’s largest electronic marketplace for OTC-traded equities, announced that Fortescue Metals Group Ltd (OTCQX: FSUGY; ASX: FMG), the world’s fourth largest iron ore producer, has chosen to have its American Depositary Receipts (ADRs) traded on the highest tier of the OTC market, OTCQX®.
Fortescue began trading today on the OTC market’s prestigious tier, OTCQX International Premier. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
“We are pleased to welcome Fortescue to OTCQX,” said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. “The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors.”
Citi will serve as Fortescue’s Principal American Liaison (“PAL”) on OTCQX, responsible for providing guidance on OTCQX requirements.
About Fortescue Metals Group Ltd
Fortescue Metals Group Ltd (OTCQX: FSUGY; ASX: FMG) trades in the United States on OTCQX under the symbol “FSUGY”, where each ADR represents 0.5 ordinary shares. Fortescue Metals is principally engaged in the operation of an integrated logistics chain starting with the mining of iron ore from Co.’s Cloudbreak mine site, the railing of product along Co.’s heavy haul rail line through to the loading of ships at the Co.’s port facility at Port Hedland. Co.’s second mine at Christmas Creek has commenced operations with product being trucked to the Cloudbreak ore processing facility for inclusion in the product blend. Co. also maintains an aggressive exploration and metallurgical program which is progressively developing tenement areas outside of the current mining sites.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world’s largest OTC marketplace for equity securities. Our OTC Link(®) trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. We organize the marketplace by categorizing the wide spectrum of OTC-traded companies into three tiers: OTCQX – The Intelligent Marketplace for the Best OTC Companies; OTCQB(®) – The Venture Marketplace; and OTC Pink(®) – The Open Marketplace. Our information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more about our Open, Transparent, and Connected marketplace, visit www.otcmarkets.com.
SOURCE OTC Markets Group Inc.