NEW YORK, April 30, 2012 /PRNewswire/ -- OTC Markets Group
Inc. (OTCQX: OTCM), the company that operates the world's largest
electronic marketplace for OTC-traded equities, announced that
Fortescue Metals Group Ltd (OTCQX: FSUGY; ASX: FMG), the world's
fourth largest iron ore producer, has chosen to have its American
Depositary Receipts (ADRs) traded on the highest tier of the OTC
market, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO
)
Fortescue began trading today on the OTC market's prestigious
tier, OTCQX International Premier. Investors can find current
financial disclosure and Real-Time Level 2 quotes for the Company
on www.otcmarkets.com.
"We are pleased to welcome Fortescue to OTCQX," said R.
Cromwell Coulson, President and Chief Executive Officer of OTC
Markets Group. "The OTCQX platform offers investor-focused
companies a winning combination of quality control, transparency,
and broader visibility to U.S. investors."
Citi will serve as Fortescue's Principal American Liaison
("PAL") on OTCQX, responsible for providing guidance on OTCQX
requirements.
About Fortescue Metals Group Ltd
Fortescue Metals Group Ltd (OTCQX: FSUGY; ASX: FMG) trades in
the United States on OTCQX under
the symbol "FSUGY", where each ADR represents 0.5 ordinary shares.
Fortescue Metals is principally engaged in the operation of an
integrated logistics chain starting with the mining of iron ore
from Co.'s Cloudbreak mine site, the railing of product along Co.'s
heavy haul rail line through to the loading of ships at the Co.'s
port facility at Port Hedland. Co.'s second mine at Christmas Creek
has commenced operations with product being trucked to the
Cloudbreak ore processing facility for inclusion in the product
blend. Co. also maintains an aggressive exploration and
metallurgical program which is progressively developing tenement
areas outside of the current mining sites.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest OTC marketplace for equity securities. Our OTC
Link® trading system delivers price transparency in over
10,000 securities and enables direct interaction between
broker-dealers that provide liquidity and execution services. We
organize the marketplace by categorizing the wide spectrum of
OTC-traded companies into three tiers: OTCQX - The Intelligent
Marketplace for the Best OTC Companies; OTCQB® - The
Venture Marketplace; and OTC Pink® - The Open
Marketplace. Our information-driven platform makes it easy for
investors to trade at the best price through the broker of their
choice and empowers companies to build the best markets for their
investors. To learn more about our Open, Transparent, and Connected
marketplace, visit www.otcmarkets.com.
Subscribe to the OTCQX RSS Feed
SOURCE OTC Markets Group Inc.