IperionX Ltd, Charlotte, North Carolina, USA, is to commence trading on the Nasdaq Stock Market based in New York City, USA. The company has announced that its registration statement, to register its ordinary shares with the United States Securities and Exchange Commission (SEC), has been declared effective and its American depositary shares (ADSs) have been approved for listing on Nasdaq.
Trading on Nasdaq is expected to commence in the US on June 21, 2022, under the ticker symbol “IPX”. Each ADS represents ten ordinary shares in the company. IperionX will maintain its existing listing of ordinary shares on the Australian Securities Exchange (ASX) under the same symbol “IPX”.
The company states that listing on Nasdaq in the United States will enhance the visibility and accessibility of IperionX to the extensive US market of retail and institutional investors and allow investors to trade IperionX’s ADSs directly in the US, in US dollars during normal US trading hours, including through their retail, online or institutional broker-dealer.
The SEC registration and Nasdaq listing process reportedly do not include any capital raising.
Anastasios (Taso) Arima, IperionX’s CEO and Managing Director, stated, “Nasdaq is one of the world’s premier venues for growth companies, and we believe this listing will provide increased liquidity for current investors and will increase IperionX’s exposure to institutional and retail investors in the United States. The Nasdaq listing comes at an important time in IperionX’s growth path as we look to scale our patented titanium metal powder technologies in the U.S. using 100% recycled titanium feedstock and progress our rare earth and titanium critical mineral project in Tennessee with the completion of an economic scoping study.”