Bordeaux, Boston, April 13, 2016: IMPLANET (Euronext: IMPL, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, announces that its sponsored Level 1 American Depositary Receipts (ADRs) will commence trading today in the United States on OTCQX® International (“OTCQX”), under the symbol IMPZY, with each ADR representing 2 ordinary shares on Euronext.
Implanet will continue to trade on EURONEXT under its existing ticker IMPL. OTCQX International is a tier of the OTCQX market reserved for high-quality non-U.S. companies that are listed on a qualified international exchange, meet high financial standards and provide their home country disclosure in English to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the Company at: www.otcmarkets.com/stock/
David Dieumegard, CFO of Implanet commented: “Given our increased presence in the U.S. following the recent FDA clearance of our latest device to address the degenerative spine market, JAZZ Lock®, we are very pleased that our ADRs are now trading on the OTCQX market. OTCQX provides Implanet the opportunity to create a better informed and more efficient marketplace for U.S.-based investors. Joining OTCQX will complement our presence on EURONEXT, while facilitating and enhancing global trading in Implanet’s shares.”
“We are thrilled to welcome Implanet to our family of established, investor-focused US and global companies,” said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. “Trading on OTCQX will allow Implanet to expand its shareholder base and visibility in the U.S. market without incurring the high cost and duplicative regulatory requirements of a U.S. stock exchange listing”. We look forward to being part of Implanet’s continued growth and success.”
BNY Mellon serves as Implanet’s Principal American Liaison (“PAL”) on OTCQX, responsible for providing professional guidance on OTCQX requirements (BNY Mellon).