Sappi starts trading on the OTCQX
Renewable resource company Sappi has decided to upgrade its presence for North American investors by joining the OTCQX trading platform.
"It is our stated intention to diversify our shareholder base outside of South Africa. This move will provide more visibility and assurance to North America-based investors interested in a renewable resource and bio-based company, with strong domestic US manufacturing and customers alongside broad global coverage." CEO Steve Binnie comments.
Sappi's current shareholder split is about 70% South African and 30% non-South African.
For companies listed on a qualified international exchange, streamlined market standards enable them to use their home market reporting to make their information available in the US.
To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
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