I am not an expert so correct me if I’m wrong.
Paul said that AZL will follow the Piedmont Lithium’s model to list on the Nasdaq.
PLL listed on the Nasdaq with the ADR level 1 which is the entry requirement for foreign companies to list on the Nasdaq since it is not mandatory for companies to meet the securities and exchange commission reporting requirements, which may suggest market cap to be one of the things to consider, as Paul once mentioned that the company will look to list on the Nasdaq as AZL grow its market cap.
When PLL first made the official announcement below, they were trading at around 0.18c per share
and each ADR represents 100 ordinary shares which means $18.00 per share.
This explains why PLL started trading at $18.00 per share in NOV 2017.
Interestingly enough, 0.18c per share suggests the market cap at the time was approximately 285 million. (We are not far behind)
At what market cap do you guys think we will dual list on the Nasdaq?
AZL Chart Discussion, page-37
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Last
1.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $71.58M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.6¢ | 1.5¢ | $6.28K | 410.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 70 | 10941733 | 1.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.6¢ | 8795059 | 6 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| AZL (ASX) Chart |