Indo Global Exchange(s) Pte. Ltd. (OTCMKTS:IGEX)has announced that it has taken initial steps towards changing the company’s name, and corporate rebranding as well. The new name is “The Mineral Company” with the State of Colorado.
Trading Data
On Friday, IGEX stock moved up 9.40% to $0.0070 with more than 47.09 million shares, compared to its average volume of 39.11 million shares. The stock moved within a range of $0.0065 – 0.0074 after opening trade at $0.0069.
The company’s stock symbol remains the same – IGEX, as well as the Cusip. Apart from filing a certificate of amendment to the company’s articles of Incorporation with the Colorado Secretary of State, it also filed an Issuer Company-Related Action Notification Form with FINRA regarding the proposed corporate name change.
However, the name change is still pending a review by FINRA and won’t be effective till FINRA officially clears the actions. The company expects the name change to be effective soon. It will now focus on enhancing and strengthening IGEX position in the lithium and grapheme sector. The name change is a vital step for the company to cement its position worldwide in the mineral industry.
Stockholders holding their shares in electronic form at a brokerage firm, bank, or other nominee will automatically have their positions adjusted to reflect the name change. Holders with paper certificates could send them to the company’s transfer agent (though it isn’t mandatory). The agent will issue a new share certificate reflecting the name change to each requesting shareholder.
Technical Data
IGEX stock is trading above the 20-Day and 50-Day Moving averages of $0.0068 and $0.0056 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0063.
