Alkane Resources Initiates ADR Program to Expand North American Investor Access

MT Newswires Live

02/12

Alkane Resources (ASX:ALK) has launched a sponsored level one American Depositary Receipts (ADR) program to enhance its accessibility to North American investors, according to a Thursday filing with the Australian bourse.

The ADRs, which began trading over the counter in the US on Wednesday under the symbol "ALKRY", are US dollar-denominated and each represents 10 Alkane ordinary shares, the filing said.

The ADR program does not involve a new securities offering, so no additional shares will be issued, and no capital will be raised, per the filing.

The company's shares fell 1% in recent Thursday trade.

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