Carbon Energy’s shares are available either through the purchase of its ordinary shares on the ASX (Australian Securities Exchange) or through its listed ADRs (American Depositary Receipts) in the U.S. Some of the features of ADRs are:
About ADRs & OTCQX Exchange
ADRs are commonly used to allow U.S. investors to buy securities issued by non-U.S. companies. An ADR is created when a broker purchases the company's shares on the company's home stock market and delivers those to the depositary's local bank, which then instructs the depositary bank in the United States to issue Depositary Receipts. Depositary Receipts may trade freely, just like any other security, on the US Over-the-Counter (OTC) and other U.S. market exchanges. Each Carbon Energy ADR (Ticker: CNXAY) represents 20 shares of Carbon Energy stock (Ticker: CNX) listed on the ASX.
Carbon Energy has listed its ADRs on the OTCQX, which is a market tier organized by Pink Sheets, LLC that sets apart a select group of issuers as worthy of consideration by U.S. investors. Qualified issuers use the efficient and robust OTCQX listing process to provide credibility and visibility of disclosure to investors. OTCQX is designed to meet the needs of small to medium sized, publicly-traded U.S. companies and non-U.S. companies listed on qualified international stock exchanges such as the ASX.