Hyperion to pursue US listing and name change to IperionX Limited
Hyperion Metals, Charlotte, North Carolina, USA, reports that it intends to file a registration statement on Form 20-F to register its ordinary shares with the United States Securities and Exchange Commission (SEC), subject to review. A Form 20-F, once declared effective by the SEC, allows certain non-US issuers to register securities with the SEC pursuant to applicable US securities laws. If approved, the company’s registration of ordinary shares would allow American depositary shares representing ordinary shares of the company to be listed on a national securities exchange in the US.
A listing on a national securities exchange in the US is expected to enhance the visibility and accessibility of Hyperion to the US market of retail and institutional investors and enable new and existing US investors to trade Hyperion’s American depositary shares in US dollars and during normal US trading hours.
As a result of Hyperion’s proposed US listing, the company will seek shareholder approval to change its name to IperionX Limited. This name change is said to be the result of a potential conflict in the US with the company’s existing name that has been recently identified. A notice of general meeting will be sent to shareholders shortly.
Anastasios Arima, Chief Executive Officer and Managing Director, stated, “The proposed listing is expected to create greater awareness of our US-focused critical minerals and metals technologies in the United States, providing exposure to enormous investor demand in a market which has a deep understanding for advanced technologies that support global decarbonisation efforts, such as Hyperion’s low carbon titanium metal technologies. We believe that access to a much larger pool of capital will provide the potential for increased liquidity and enhanced value for our shareholders.”
