Highlights
- RAD’s American Depositary Shares (ADS) will start trading on Nasdaq under the ticker "RADX" on 27 November 2024 (U.S. time).
- The Nasdaq listing complements the exiting US shareholders, who hold a 21% stake in the company.
- RAD’s share price surged by 10.71% to AU$0.031 per share as of 27 November 2024
Radiopharm Theranostics (ASX:RAD) has announced that its American Depositary Shares (ADSs) will start trading on the Nasdaq Capital Market (Nasdaq) under the ticker symbol “RADX” on Wednesday, 27 November 2024, U.S. time. Each ADS represents 300 ordinary shares of Radiopharm.
The Nasdaq listing, which serves as a secondary listing alongside Radiopharm’s primary listing on the Australian Securities Exchange (ASX), is expected to enhance the company's presence in the U.S. market. Additionally, the listing complements the 21% stake held by US shareholders.
Notably, the listing was completed without raising additional capital in the US.
Initial trading volumes may be limited, as existing shareholders will need time to deposit their ordinary shares into the ADR (American Depositary Receipt) program to receive ADSs for Nasdaq trading.
Deutsche Bank Trust Company Americas has been appointed as the depositary, custodian, and registrar for the company’s ADR program.
The Nasdaq listing marks a significant milestone for Radiopharm Theranostics’ expansion into the US and international markets.
RAD shares surge
Following the update, RAD shares jumped 10.71% to AU$0.031 per share at the time of writing on 27 November 2024.