Nightingale OTC trading in the US likely to start already within a week

Translation: Original published in Finnish on 3/18/2025 at 7:12 am EET.

Nightingale announced last week that it had submitted an application for a transfer to the main list and yesterday the company announced that the listing prospectus for its transfer to the Main Market of Nasdaq Helsinki has been approved by the Finnish Financial Supervisory Authority. Trading in the company’s shares is expected to transfer to the Main Market tomorrow, on Wednesday, March 19.

Nightingale also announced yesterday the establishment of an ADR program in the US and that it expects trading in its B shares and ADRs to begin between March 19 and March 24 on the OTCQX Market in the US. ADRs are depositary receipts representing foreign shares and can be traded in US dollars. According to the release, they are specially designed to make it easier for American investors to purchase, hold and sell non-US securities.

We commented last week that we thought it was very likely that the company would apply for an OTC listing after the main listing later in the spring. The news on the progress of the OTC listing is therefore expected, although OTC trading will start sooner than expected after the move to the main list. The news has no impact on our view of the stock and we commented more extensively on this earlier in November here.