it’s an upgrade to a higher tier, there’s a few earlier posts that explain.
OTC is made up of market makers who set the buy/sell quotes, as opposed to being the middle man between clients, so i think you’re on the money. Given some big buys went through at 15c (anyone got todays VWAP?) it will be interesting to see what price they set overnight. We now have something to keep us occupied while watching the paint dry. If we see the kind of appetite for IVZ shares that we’ve been hearing, and given the low amount of shares currently available here in the secondary market, today’s trading may end up being a quiet day. Looking forward to see US based market makers scooping up multi $100k + parcels.
