EcoGraf (ASX:EGR) - Managing Director, Andrew Spinks
Managing Director, Andrew Spinks
Source: Business News
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • 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 Online

WA1 Resources jumps 6% on high-grade niobium from drilling at Luni

WA1 Resources has jumped 6.5% in morning trades as the market responds favourably to the company's…
The Market Online Video

Barton Gold taps investors for $4M to fund Tunkillia study; drilling

Barton Gold (ASX:BGD) has announced it's raising $4M to advance key project studies at its Tunkillia…
The Market Online Video

Lithium Plus heading towards feasibility works at Lei deposit; MRE growth potential flagged

Lithium Plus Minerals (ASX:LPM) has revealed the company is preparing to get underway with feasibility works…

FireFly Metals announces port access & expansion; CFO resignation

FireFly Metals has inked a Port Access Agreement with TSXV-listed Maritime Resources Corp (TSXV:MAE), enabling FireFly…