Trustco Group Holdings Limited is aiming to improve its presence in the United States (US).
The company announced in a statement yesterday that it would upgrade its American Depositary Receipts (ADR) programme.
Deputy chief executive Quinton Z van Rooyen said the US market will place Trustco and Namibia on the global investment map.
He said the company will also have broader investor access, creating growth for the country in the process.
The increased ADR programme will allow them to list on the US stock exchange markets.
“The company plans to maintain its primary Johannesburg Stock Exchange listing, as well as its Namibian Stock Exchange and OTCQX listings. Current shareholders will have the option to convert their existing ordinary shares into ADRs,” noted the statement.
The company noted that the strategic move aligns with Trustco’s recent US$100 million investment agreement with Riskowitz Value Fund, a long-term US-based investor.
“The company is confident that the ADR upgrade will position it for accelerated growth and further solidify its status as a leading African investment firm,” noted the statement.
The decision emphasises the company’s belief that upgrading the ADR programme will be a great benefit for African companies to compete on the world stage.
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