TNG mulls dual listing on London Stock Exchange as it seeks to lift investor profile
14:50 05 Mar 2019
The company aims to attract new investors as part of its funding strategy for the Mount Peake Vanadium-Titanium-Iron Project.
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The Mount Peake project is 80 kilometres northeast of Alice Springs
TNG Limited (ASX:TNG) is exploring the merits of admitting its securities to trading on the AIM market of the London Stock Exchange.
The company's objective in undertaking a potential dual listing would be to enhance liquidity for shareholders and provide direct access to investors in the London market.
After investigating several overseas markets, TNG believes that a dual listing on AIM could provide it with enhanced access to a larger pool of investors to support development funding of its flagship Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.
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Improves access to European investors
TNG’s managing director Paul Burton said: “The London Stock Exchange is one of the world’s largest and most liquid markets.
“It is a leading destination for vanadium companies and has a strong network of brokers, analysts and institutional investors with a deep knowledge of the global vanadium market and the exciting dynamics that are emerging for new global tier-1 vanadium assets such as Mount Peake.
“A potential AIM listing could help us to raise our profile globally and significantly improve access to European and UK-based institutional investors.”
No decision has been made as to whether TNG will apply for admission to trading on AIM or whether the company will seek to raise funds via the issue of new ordinary shares.
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