On May 16, 2023, Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (SEHK: 669, OTCQX: TTNDY, TTNDF) announced that it has qualified to trade on the OTCQX Best Market, upgrading from PINK market. This achievement sets a significant milestone for the company as it becomes the first Hang Seng Index company, with a market capitalization approximately of HK$ 20.4 billion, to voluntarily cross-trade in the OTC market.
By qualifying for the OTCQX Best Market, TTI has met rigorous financial standards, adhered to best practice corporate governance, and demonstrated compliance with applicable securities laws. These streamlined market standards enable the company to leverage its home market reporting, ensuring that its information is readily accessible to investors in the United States.
Mr. Joseph Galli, CEO of TTI, commented, “We are delighted to begin trading on the OTCQX market. Hong Kong remains the domicile of TTI’s primary exchange listing, but this new development will add greater liquidity to both our ordinary shares and our ADR program, while making the stock more accessible to a broader global investment community.”
About Cross-Trading
Cross-Trading is an approach offered by OTC Markets that allows companies to enhance liquidity in both their domestic and international markets through cross-trading on the OTCQX or OTCQB platforms.
About TTI
TTI is a global leader in cordless technology, offering a comprehensive range of professional tools, DIY tools, and outdoor power equipment. The company’s portfolio includes renowned brands such as MILWAUKEE, RYOBI, AEG, EMPIRE, HOOVER, VAX, DIRT DEVIL, and ORECK. The group is founded in 1985 and listed on The Stock Exchange of Hong Kong Limited in 1990.
TTI is highly regarded in the industry and is a constituent stock of several prominent indexes, including the Hang Seng Index, Hang Seng Corporate Sustainability Benchmark Index, FTSE RAFITM All-World 3000 Index, FTSE4Good Developed Index, and MSCI ACWI Index. The company’s commitment to advancing cordless technology, coupled with its strong emphasis on environmental, social, and corporate governance standards, has propelled it to the forefront of its industries.
