Share Information
Share Information
Main Listing – Oslo Stock Exchange

Thin Film Electronics ASA is listed on the Main List on the Oslo Børs (Oslo Stock Exchange, ticker THIN). Thinfilm has one class of shares. The ISIN of the Thinfilm share is NO 001 029 9068. The shares are registered in the VPS, the Norwegian Central Securities Depository.


Thinfilm's registrar is DNB Bank ASA, Securities Services, DNB Bank ASA, Dronning Eufemias gate 30, 0191 Oslo, Norway, phone: +47 23 26 80 21, telefax: +47 2248 2980. Shareholders should contact his or her VPS account administrator, which may or may not be the same as Thinfilm's registrar.

US trading – Level 1 ADR trading on OTCQX International Marketplace

Thin Film Electronics ASA has established a sponsored Level 1 American Depositary Receipt (ADR) program which will permit investors to invest in Thin Film Electronics ASA through a US traded security. Thinfilm’s official ADR ticker code is TFECY. For details please see the Share Information section on our website.

Thinfilm Level I ADR Overview:

  • DR Exchange: OTCQX
  • Ratio (DR:ORD): 1:10
  • Depositary: BNY Mellon
  • Effective Date: March 2, 2015
  • DR CUSIP: 884089103
  • DR ISIN: US8840891035
  • Underlying ISIN: NO0010299068
Quick Reference Guide to Issuance and Cancellation for Financial Intermediaries

Financial intermediaries (e.g., brokers) can access this reference document for detailed instructions on the process for ADR issuance and cancellation through BNY Mellon. Simply click on the pdf link to view and/or download.

Frequently Asked Questions
What is an ADR?

– Security issued by a US depository bank that represents ownership interest in a specified issuer's ordinary
– ADRs can represent one or more shares, or a fraction of a share

What are the differences between sponsored and unsponsored programs?

– Unsponsored ADR programs are issued by a depository bank without a formal agreement with the issuer whose shares underlie the ADR
– Afford the issuer little to no control over the marketing and other terms of the offering
– Sponsored ADR programs are issued pursuant to a formal agreement, known as a depository agreement, between the depository bank and an issuer

Why do you list in the US? What are the benefits?

– A listing enables US investors access to Thinfilm's securities in US dollars during US market hours
– Allows US investors to diversify their investment portfolio without subjecting them to foreign securities laws and trading fees
– ADRs are "American" securities that are quoted in US dollars, pay dividends in US dollars and trade and settle according to US market conventions
– Increases Thinfilm's liquidity profile by accessing a larger pool of investors

Who can invest in the ADR?

– Anyone can invest directly in "TFECY" through their registered broker dealer

What are the costs for an investor to buy the ADR?

– Commissions typically charged by depository banks are paid for by the investor and are outlined below:
No more than $5.00 per 100 shares for trades into (issuance) and out of (cancellation) a program. No more than $0.05 per share annual ADR fee. No more than $0.05 per share for any cash dividend
– Short term, long term and dividend income tax rates for ADRs are the same as those of US common equity investments

What are the currency implications of holding an ADR?

– The investor bears the cost of foreign exchange conversion and pricing is dictated by their individual brokerdealer

Are there arbitrage opportunities with an ADR?

– The DR typically has more than one market-maker providing a fair bid and ask that is priced according to the last sale in its home market net of currency exchange