Total
0
Shares
EcoGraf (ASX:EGR) - Managing Director, Andrew Spinks - The Market Herald
Managing Director, Andrew Spinks
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Graphite company EcoGraf (EGR) has begun trading on the OTCQX market under the code ECGFF
  • This listing follows the surging investor interest in the U.S. for electric vehicles and President Biden's plans to replac U.S. Government vehicles with electric vehicles
  • The OTCQX is the highest tier over-the-counter (OTC) market for U.S. stocks
  • OTC Markets allow shares to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE
  • While they are generally riskier and more prone to manipulation, it is easier to trade between international parties
  • Shares in EcoGraf are up a healthy 17.4 per cent and are trading at 57.5 cents

Graphite company EcoGraf (EGR) has begun trading on the OTCQX market under the code ECGFF.

This listing follows the surging investor interest in the U.S. for electric vehicles and President Biden's plans to replace U.S. Government vehicles with electric vehicles.

The listing also follows the company's successful $54.6 million capital raising which was completed on February 12.

EcoGraf stated it would use the funds to construct and bring the first stage of its WA-based battery anode material purification facility into operation.

The OTCQX is the highest tier over-the-counter (OTC) market for U.S. stocks.

To be eligible to list on the OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with U.S. securities laws.

OTC Markets allow shares to be traded directly between investors rather than through a formal exchange such as the ASX or NYSE.

While they are generally riskier and more prone to manipulation, it is easier to trade between international parties.

EcoGraf is now listed on the ASX, the Frankfurt Stock Exchange and in the U.S.-based OTCQX.

Shares in EcoGraf are up a healthy 17.4 per cent and are trading at 57.5 cents at 1:46 pm AEST.

EGR by the numbers
More From The Market Herald
Peako (ASX:PKO) commences drilling at East Kimberley

" Peako (ASX:PKO) expands East Kimberley footprint

Peako (PKO) has applied for additional ground in Western Australia’s East Kimberley region to expand the company’s total tenement package to 3335 square
Aeris Resources (ASX:AIS) - Executive Chairman, Andre Labuschagne - The Market Herald

" Aeris Resources (ASX:AIS) raises $50.4M to advance its copper and gold assets

Aeris Resources (AIS) has completed an institutional placement to raise roughly $50.4 million.
Syrah Resources (ASX:SYR) - Managing Director and CEO, Shaun Verner - The Market Herald

" Syrah Resources (ASX:SYR) issues $28M convertible note to AustralianSuper

Syrah Resources (SYR) has elected to issue a proposed $28 million convertible note to AustralianSuper.
Oakdale Resources starts drilling at Nevada gold project

" Magnum Mining & Exploration (ASX:MGU) begins offtake discussion with Anglo American

Magnum Mining & Exploration (MGU) has begun offtake discussions for its Buena Vista Iron Ore Project with Anglo American.