Madison Williams has the expertise
Sungwon Pipe Co. Ltd., Korea's leading provider of stainless steel pipes, announced today that its American Depository Receipts (ADRs) are available for trading in the United States on OTCQX International under the symbol "SNGWY" as of market open this morning. Each ADR represents 10 ordinary shares listed on the KOSDAQ under the symbol "015200."
"Given our current leadership in the Korean market and a strategic focus to expand our business internationally, this is an opportune time for Sungwon Pipe to increase its visibility and to establish a direct channel with U.S. investors to share our strategic vision of becoming a major global player in the stainless steel pipe industry," said Mr. Chung Keun Kim, Chief Executive Officer of Sungwon Pipe. "We have achieved a milestone today as we are the first company from Korea to list on the OTCQX. By doing so, we are demonstrating our commitment to providing our investors with trading transparency, easy access and high quality disclosure. We are confident that our OTCQX listing paired with the extensive expertise and support of Madison Williams will generate the long-term relationships we are seeking within the U.S. investment community."
Managing Director and Head of Madison Williams' OTCQX Advisory Group Stephen Nash said, "With an industry-leading energy investment banking practice, Madison Williams has the expertise and network to raise Sungwon Pipe's profile among U.S. investors. Several high caliber international companies have recently taken advantage of OTCQX's cost-effective U.S. quotation, enabling foreign equities to be traded during U.S. market hours using U.S. dollars and be held in U.S. brokerage accounts."
