Source - Alliance News

Southern Energy Corp on Friday said its shares are now trading on the OTCQX Best Market, making it easier for US investors to buy and sell.

Shares in the Mississippi-focused oil & gas firm are trading on OTCQX the ticker OUTF.

The OTCQX is the top tier of three marketplaces for over-the-counter trading of stocks in the US. Over-the-counter trading is the process of trading securities via a broker-dealer network rather than a centralised exchange.

‘To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws,’ the company added.

Southern Energy previously traded on the Pink Market, the lowest and most speculative tier.

The shares will also continue to trade on the TSX Venture Exchange in Toronto under the symbol SOU, and on the AIM market in London under the symbol SOUC.

Chief Executive Ian Atkinson said: ‘We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for our US investors to invest in Southern as we look to unlock shareholder value through our long-term development drilling program at Gwinville.’

Southern Energy is an operator at the Gwinville field in Mississippi.

Shares in Southern Energy were up 1.8% to 54.20 pence each in London on Friday afternoon.

Copyright 2022 Alliance News Limited. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Southern Energy Corp. (SOUC)

+0.25p (+2.13%)
delayed 15:57PM