Join our daily newsletter At The Bell to receive exclusive market insights
- Lithium-boron supplier ioneer (INR) has formally begun evaluating a secondary listing on a major U.S. stock exchange
- This potential listing is in line with the company’s strategy to increase its exposure to U.S. markets
- ioneer’s core asset, the Rhyolite Ridge Project, is currently the most advanced lithium development asset in the United States
- Despite no guarantee of a secondary listing being achieved, the company hopes for it to occur in 2021’s second half
- ioneer is down 1.27 per cent and trading at 39 cents per share
Lithium-boron supplier ioneer (INR) has formally begun evaluating a secondary listing on a major U.S. stock exchange.
This evaluation process involves a thorough review of the multiple potential listing options that are available to the company.
ioneer’s proposal for a secondary listing in the U.S. is in line with the company’s long-term strategy to increase its exposure to U.S. markets. The company’s core asset, the Rhyolite Ridge Lithium-Boron Project, is located in Nevada, U.S.
Rhyolite Ridge is currently the most advanced lithium development asset in the United States. With America’s new president and administration pushing for zero-emissions technologies and a low-carbon future, the company expects to benefit from development of a U.S. lithium-ion battery materials supply chain.
ioneer’s Managing Director, Bernard Rowe, commented on the company’s potential secondary listing in the U.S.
“As we look ahead to the next phase of ioneer’s growth, we believe that increased exposure to the U.S. market will be greatly beneficial to the company and its shareholders,” he said.
“Rhyolite Ridge is the most advanced lithium development asset in the U.S. and there is a growing desire for U.S. investors to invest in companies in the clean energy supply chain, which we’ve seen clearly demonstrated through strong interest in other U.S.-listed lithium development companies,” he added.
Despite ioneer’s commitment to the review process, there is no guarantee that it will result in a secondary U.S. listing for its shares. That said, the company still hopes that the proposed listing will take place during the second half of 2021.
ioneer will announce the Board’s decision regarding the review process and potential listing in due course.
ioneer is down 1.27 per cent, trading at 39 cents per share at 3:35 pm AEST.
