Nobilis Health was approved to list on the NEO Exchange in Toronto, becoming the first company to have a cross listing on the New York Stock Exchange and NEO Exchange.
Here are four things to know:
1. Nobilis will begin listing on NEO under the ticker symbol HLTH. The dual listing will allow for better access to and by investors, according to CEO and Chairman of the Board Harry Fleming. The dual listing "will benefit our existing shareholders and our ability to raise capital in the future," he said.
2. Nobilis, a healthcare development and management company, has more than 30 locations in Texas and Arizona. The company partners with ASCs, hospitals, multispecialty clinics and other facilities.
3. In 2016, Nobilis facilities generated more than $285 million in revenue. "NEO's unique focus on quality liquidity and its investor outreach program will further the recognition of our true market value and allow us to grow our Canadian shareholder base," said Mr. Fleming. "We are excited about the impact this will have on our global shareholder base."
4. The NEO Exchange is the next generation stock exchange in Canada, designed for businesses looking to raise capital and dealers first. "Our stock exchange is designed to meet the needs of public companies like Nobilis Health who recognize both opportunities the Canadian capital markets can bring to their growth strategy and the opportunities international companies can bring to Canadian investors and the Canadian economy as a whole," said Jos Schmitt, president and CEO of NEO.