STOCKHOLM, Sweden, June 22, 2011 (GLOBE NEWSWIRE) -- NASDAQ OMX (Nasdaq:NDAQ) today announced that the trading of ShaMaran Petroleum Corporation (SNM) shares will commence today, June 22, on NASDAQ OMX's growth market First North. ShaMaran Petroleum, part of the energy sector, is the ninth company to list on First North in 2011.
ShaMaran Petroleum is an expanding international oil and gas company and a member of The Lundin Group. ShaMaran is engaged in the acquisition, exploration and development of oil and gas resources in the Kurdistan region of Iraq. ShaMaran Petroleum is now listed on both the TSX Venture Exchange in Toronto Canada and First North in Stockholm, and this dual listing makes ShaMaran one of First North's largest companies. ShaMaran is the sixth company from TSX Venture Exchange and Toronto Stock Exchange to dual list on First North or the NASDAQ OMX main market.
Mr. Pradeep Kabra, President of ShaMaran Petroleum, said, "Even though the company's shares have, to-date, only been traded on the TSX Venture Exchange, a large number of our stockholders are Nordic, and the interest from the Nordic and European investor community is growing. A secondary listing on First North will increase our visibility and outreach to investors in Europe and thus improve the liquidity of the company's shares and broaden our shareholder base."
Jenny Rosberg, Senior Vice President at NASDAQ OMX, said, "ShaMaran Petroleum is an established company that will make a great addition to our investors looking for opportunities within oil exploration and the energy sector.
"Dual listing is becoming a popular decision for companies looking to increase their presence in the global capital market. We are proud to have a strong portfolio of dual listed companies from TSX Venture Exchange and the Toronto Stock Exchange."
ShaMaran Petroleum has appointed Ohman Fondkommission as Certified Adviser.
About First North
First North is regulated as a multilateral trading facility, operated by the different exchanges within NASDAQ OMX Nordic. It does not have the legal status as an EU-regulated market. Companies at First North are subject to the rules of First North and not the legal requirements for admission to trading on a regulated market. The risk in such an investment may be higher than on the main market.
About NASDAQ OMX
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