LeoVegas starts trading shares in dollars to attract US investors
Stockholm-listed operator makes shares available for purchase in USD on OTCQX Market as CEO says 12% of operator's shareholders are from the US
Shares in Stockholm-listed online operator LeoVegas can now be traded in US dollars as it looks to attract investment from the cash-rich US capital market.
From March 25, LeoVegas shares will be available for trading on the OTCQX market as an F share under the ticker symbol LEOVF.
LeoVegas said trading on OTCQX will complement its current listing on Nasdaq Stockholm and will make it easier to meet the “growing interest” in the business from American investors.
LeoVegas CEO Gustaf Hagman said: “Today approximately 12% of our shareholders are from the US, and we are seeing ever-greater interest in LeoVegas as a company and investment.
“The decision to also begin trading on OTCQX will help make us more accessible for American investors and thereby enable others to join us on our growth journey going forward.
“I want to welcome all of the new shareholders that this will bring,” he added.
Trading on the OTCQX market offers companies greater access to the US capital market in a cost-effective way.
OTC markets manage the US stock market for securities that are not listed on the traditional stock markets. The marketplace is divided into OTCQX (top tier), OTCQB (middle tier) and Pink Markets (bottom tier) to distinguish the different lists.
LeoVegas’ share price increased by more than 7% following the news.
The European-focused operator is considered one of the market’s original mobile-first casinos but it also operates a Kambi-powered sportsbook product.