Chamwe KairaÂ
Africa Bitcoin Corporation Limited (ABC), formerly Altvest Capital Limited, says its ordinary shares have started trading in the United States on the OTCQB Venture Market.
Trading began on Wednesday under the ticker AFBCF.
The company anticipates that this move will enhance its visibility and reach, providing global investors with an additional avenue to access its shares.
The OTCQB Market is an electronic broker-dealer platform operated by OTC Markets Group. It is not a licensed or regulated securities exchange, and ABC’s admission is not a formal listing. It allows secondary trading of the company’s existing ordinary shares through US market makers.
ABC said the arrangement does not involve a foreign share registry, depositary receipts or offshore custodial structures. All shares traded on the OTCQB remain settled and held in South Africa through the JSE and Strate systems.
The Johannesburg Stock Exchange remains ABC’s primary listing.
In September, the Namibia Securities Exchange approved a secondary listing of the company’s ordinary shares and preferred C ordinary shares with effect from 2 October.
ABC also launched an equity capital raise of up to 1 000 000 ordinary shares at N$11.00 per share. Following the NSX approval, the offer was extended to Namibian investors.
The equity raise was open only to South African and Namibian investors and was not offered in jurisdictions requiring regulatory filings.
The company said the proceeds will support the growth of small and medium enterprises in South Africa and Namibia through flexible, impact-driven lending.
Part of the funding will also strengthen the balance sheet and improve the debt-to-equity ratio to create room for further debt raising. The company reported net assets of N$38.8 million as of 28 February and a loss after tax of N$12.6 million for the year ended 28 February.
