Medigus Announces Nasdaq Listing and Commencement of Trading
OMER, Israel, May 20, 2015 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, announced today that it has listed and begun trading American Depositary Receipts (ADRs) on the Nasdaq Capital Market under the ticker symbol "MDGS."
The Bank of New York Mellon is serving as depositary for the ADRs and each ADR represents 100 ordinary shares of the Company. Ordinary shares will continue to trade on the Tel Aviv Stock Exchange under the symbol "MDGS."
"We're extremely pleased to be listed on the Nasdaq Stock Market - an important step in our overall corporate development strategy as we look to build awareness of Medigus within the U.S. investment community and expand our presence in the U.S. market," said Chris Rowland, Chief Executive Officer of Medigus. "This listing adds to many recent milestones for Medigus, including the completion of several procedures using the MUSE(TM) system performed in front of large physician audiences in leading GI/Surgical congresses. In addition, we have a new peer review article recently published in the journal of Surgical Endoscopy. Finally, the recent recommendation for the creation of a new Category 1 CPT code from the American Medical Association represents an important step in establishing coverage in the United States for our trans oral GERD procedure."