MetaOptics (SGX:9MT) established a sponsored Level 1 American Depositary Receipt program in the U.S. on Friday, with the ADSs to trade on the OTCQX market, according to a same-day Singapore bourse filing.
Each ADS represents 10 shares listed on the Catalist board of the Singapore Exchange, with the ADS ticker symbol MOTLY and J.P. Morgan as depositary bank.
The program does not involve capital raising or new share issuance and will not dilute existing shareholders, the company said.
Its ordinary shares will continue to trade on the SGX Catalist board, the filing said.
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