Cosmos Holdings Inc (OTCQB:COSM), the wholesale Chicago-based pharmaceutical company, is raising its profile by formally submitting an application to uplist its common stock to the Nasdaq Composite stock exchange from the OTCQB Venture market.
The move underlines the strides Cosmos has made in strengthening its corporate governance and positioning itself for growth and profitability.
Cosmos is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece, and in Harlow, the UK. The company conducts business in 16 countries including Germany, the United Kingdom, Ireland, Denmark, Italy, France, Spain, Sweden, Poland, Netherlands, and Greece.
BIG PICTURE: Cosmos Holdings focuses on Europe as it expands its global wholesale pharmaceutical business
In a statement, CEO Gregory Siokas, said the uplisting, which is still subject to Nasdaq approval, would increase the liquidity of Cosmos stock and draw a wider audience of investors.
“We believe up-listing to Nasdaq will increase awareness of Cosmos Holdings in the financial community,” Siokas said. “In addition to liquidity for our shareholders, we expect this listing to provide greater awareness of our unique approach in the international pharmaceutical market, and enable us to attract a broader audience in the investment community.”
Cosmos said it intends to satisfy all of Nasdaq's listing requirements, but pointed out that its application is subject to approval by Nasdaq. During the review process, the company’s common stock will continue to trade on the OTCQB under its current symbol "COSM".
Cosmos shares closed up 8.9% last Friday to US$6.15.