Wednesday 01 December 2021 2:46 pm

London’s Oxford Cannabinoid Technologies to launch twin US listing

By: Millie Turner

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London-listed Oxford Cannabinoid Technologies (OCTP) is set to open a twin listing in the US to ensure investors have “easier access”.

Investors were seemingly pleased with the move, as OCTP’s share price surged 17.9 per cent by mid-afternoon.

Landing on the US’ OTC Equity Market under the ticker OCTHF, the cannabinoid pharmaceutical firm said that the new listing will open it up to a “broader pool of potential investors” which will bolster liquidity.

OCTP’s assured London shareholders that its ability to trade its existing ordinary shares on the London Stock Exchange’s (LSE) standard list will not be impacted.

“In the coming months, OCTP’s management team will be placing additional emphasis upon increasing our outreach efforts to US-based institutional and retail investors and widening our shareholder base,” chief executive Dr John Lucas said.

No new shares have yet been issued, and it will continue to keep local investors updated via the LSE.

Beyond strengthening liquidity, the second listing will offer “the ability to prioritise transparency through disclosure and provide investors with an efficient trading experience,” executive vice president of corporate services at OTC Markets Group, Jason Paltrowitz said.