MetaOptics launches U.S. ADR programme on OTCQX

MetaOptics Ltd, a semiconductor optics company based in Singapore, has announced the establishment of a sponsored Level 1 American Depositary Receipt (ADR) programme in the United States. Under this programme, American Depositary Shares (ADSs) will trade on the OTCQX market.

J.P. Morgan has been appointed as the depositary bank for the programme. The company stated that the ADR initiative does not involve any capital raising or the issuance of new shares, and is not expected to have a material impact on existing shareholders. MetaOptics' ordinary shares will continue to trade on the Catalist board of the Singapore Exchange.

The move aims to expand the company's global shareholder base and provide U.S. investors with easier access to its stock. This follows the company's expansion efforts in the U.S., including plans to establish its first front-end semiconductor manufacturing line equipped with 12-inch DUV immersion lithography equipment.