20 December 2010

AXT upgraded to NASDAQ Global Select Market

AXT Inc of Fremont, CA, USA, which manufactures gallium arsenide, indium phosphide and germanium substrates and raw materials, says that the NASDAQ Stock Market has upgraded the listing of its securities from the NASDAQ Global Market to the NASDAQ Global Select Market, effective 3 January 2011 (contingent on it maintaining compliance with the continued inclusion requirements for the Global Market through 31 December 2010). The firm’s securities will continue to trade under the symbol ‘AXTI’.

As one of three market tiers at NASDAQ, the Global Select Market recognizes the highest financial listing standards in the world, with measures including market value, liquidity and earnings, according to NASDAQ, and qualifying for it is a mark of achievement, leadership, credibility and high ethical standards for companies.

“Having qualified for the NASDAQ Global Select Market is significant validation of the company and our board’s dedication to corporate governance practices of the highest standard and integrity,” reckons CEO Dr Morris S. Young. “Inclusion in this market should increase our visibility in the capital markets and further broaden our shareholder base.”

See related items:

AXT’s revenue rises 16% in Q3 to $26.8m

Tags: AXT GaAs GaAs substrate InP Germanium

Visit: www.axt.com