Méliuz Shares Surge Following US Market Listing Announcement
Brazilian bitcoin treasury company Méliuz (CASH3: B3) experienced a significant surge in its stock value on Friday, fueled by the announcement of its upcoming listing on the US market.
The company announced on Thursday that it is in the final stages of listing its shares on the OTC Markets in the United States. Méliuz estimates the listing will occur within four weeks, pending regulatory approvals.
“Méliuz S.A. (B3: CASH3) (“Company”), the first Bitcoin Treasury Company in Brazil and Latin America, informs its shareholders and the market in general that it is in the final phase of listing its shares on the OTC Markets (USA) – estimated at up to 4 weeks, depending on regulatory procedures and the internal decision-making process of the OTCQX,” the company stated in a relevant fact.
The stock price rose by 3.17% for the week, reaching a unit value of R$ 7.17. The majority of this increase occurred in the last 24 hours, with CASH3 rising from R$ 6.72 to the current price, a 6.70% increase during that period.
Méliuz shares are trading higher following the announcement of a listing on the US stock exchange and the rise of Bitcoin.
Méliuz Announces US Stock Listing Amid Bitcoin Rally
By listing its shares on the OTCQX Markets, Méliuz aims to increase its visibility among international investors. This move is intended to accelerate its strategy of acquiring more Bitcoin whenever possible.
However, the company clarifies that the new listing will not affect the trading of CASH3 on the B3 (Brazilian stock exchange), as it will not involve the issuance of new shares or the raising of capital.
“The operation will not involve the issuance of new shares or the raising of funds. As part of this listing, market operators will be able to acquire existing shares of the Company on the B3 (Brazil) and make them available for trading in the United States through a specific ticker – to be announced – denominated in US dollars, with a settlement and delivery mechanism aligned with local market standards,” the company stated.
Méliuz chose the OTCQX market due to its high compatibility with the company’s financial standards. Other bitcoin treasuries are also pursuing similar moves.
The company also noted that the OTCQX is a market geared towards established companies, focusing on investors in the US and abroad. This listing will give Méliuz shares greater global visibility.
Stay ahead of the curve in the fast-paced crypto world – explore the latest updates and trends at Cryptonewsfeeds.com.
