NEW YORK, Dec. 19, 2013 /PRNewswire/ -- OTC
Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and
Connected financial marketplaces, today announced that Commercial
International Bank Ltd. (OTCQX: CIBEY; Egyptian Exchange Main
Market: COMI.CA), a leading financial institution in Egypt, has chosen to have its American
Depositary Receipts (ADRs) trade on OTCQX®, the best marketplace
with qualified companies.
(Logo:
http://photos.prnewswire.com/prnh/20110118/MM31963LOGO)
Commercial International Bank ("CIB") begins trading today on
OTCQX International Premier, a segment of the OTCQX marketplace
reserved for world-leading non-U.S. companies that are listed on a
qualified international exchange and provide their home country
disclosure to U.S. investors. U.S. investors can find current
financial disclosures and Real-Time Level 2 quotes for the company
on www.otcmarkets.com.
"We are pleased to welcome CIB, the first Egyptian company to
join our OTCQX marketplace," said R.
Cromwell Coulson, President and CEO of OTC Markets Group
Inc. "With CIB's move to OTCQX, U.S. investors now have ready
access to the company's news and financial disclosure as well
transparent trading information making it easier to analyze, value
and trade their ADRs. We look forward to working with CIB's
management team as they continue to grow the company's visibility
with U.S. investors."
BNY Mellon serves as CIB's Principal American Liaison ("PAL") on
OTCQX, responsible for providing professional guidance on OTCQX
requirements.
CIB provides a range of financial services such as asset and
liability products, securitization, direct investing, wealth
management, and treasury to enterprises, other institutions,
households and high-net-worth individuals. The bank, through
its subsidiaries, offers life insurance, leasing and factoring,
investment banking, brokerage and research.
CIB will trade in the U.S. on OTCQX under the symbol "CIBEY,"
where each ADR represents one ordinary share.
About OTC Markets Group Inc.
OTC Markets Group Inc.
(OTCQX: OTCM) operates Open, Transparent and Connected financial
marketplaces for 10,000 U.S. and global securities. Through our OTC
Link® ATS, we directly link a diverse network of broker-dealers
that provide liquidity and execution services for a wide spectrum
of securities. We organize these securities into marketplaces to
better inform investors of opportunities and risks – OTCQX®, The
Best Marketplace with Qualified Companies; OTCQB®, The Venture
Stage Marketplace with U.S. Reporting Companies; and OTC Pink®, The
Open Marketplace with Variable Reporting Companies. Our data-driven
platform enables investors to easily trade through the broker of
their choice at the best possible price and empowers a broad range
of companies to improve the quality and availability of information
for their investors. To learn more about how we create better
informed and more efficient financial marketplaces, visit
www.otcmarkets.com.
OTC Link® ATS is operated by OTC Link LLC, member FINRA/SIPC and
SEC regulated ATS.
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SOURCE OTC Markets Group Inc.
