August 28, 2014
Heliospectra (publ), a world leader in intelligent lighting technology for plant research and greenhouse cultivation, has signed an agreement with BNY Mellon (The Bank of New York Mellon Corporation) to carry out an ADR program (American Depositary Receipts). As a result, Heliospectra shares will soon be traded in the United States.
With the ADR program, it is much easier for investors in the United States to purchase Heliospectra shares in the local currency (USD), through their normal brokers and during normal American work hours.
- We have seen a great interest in our products and our stock in the United States. Becoming a part of the ADR program has been an expressed desire for Heliospectra. Now our shares are more accessible in a market that we believe has great potential, says Staffan Hillberg, CEO Heliospectra, which expects that direct trading in the United States, in practice, should be running within a month.
The first ADR program was launched in 1927 with the company Selfridges and today there are over 1500 companies using ADR. Examples companies include SAP, Adidas, Ericsson, Statoil and GW Pharma. There are three different levels of the ADR program and Heliospectra has chosen level 1. This level is used by a majority of foreign companies, as it offers reporting requirement and document translation advantages.
Already in connection with the First North IPO, a number of American investors came in with capital and have followed the company. Because the American market is rapidly growing, Heliospectra sees this as a good thing for raising awareness for the company, broadening ownership further and offering American investors to participate in the exciting ongoing development of the company.
Heliospectra (publ - listed on NASDAQ OMX First North) Founded in 2006 and specializing in intelligent lighting technology for plant research and greenhouse cultivation. Heliospectra products are based on in-depth knowledge in plant physiology and photosynthesis along with a unique way to utilize modern LED technology. After six years of development in Sweden, the company has now begun to expand into the international market. The company has raised over $ 9.7 million in venture capital and has received over 2.6 million dollars through academic scholarships. It has also received numerous awards for its forward thinking technology. Principal owner: Industrial Fund www.industrifonden.se,Midroc www.midroc.se,Weland Steel www.welandstal.se
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