24 Oct ASX strategic metals developer TNG looks to London for secondary listing
Australian-listed strategic metals firm TNG has announced plans for an initial public offering (IPO) on the London Stock Exchange (LSE).
The secondary listing is likely to be completed by 2020, although the firm has not yet made a decision as to whether it will use the London IPO to raise funds.
TNG’s flagship project is the Mount Peake vanadium-titanium-iron project in the Northern Territory. The company believes it is one of the most advanced and largest projects of its kind in the world.
Chief executive Paul Burton said: “The proposed dual listing on the Main Market of the London Stock Exchange is another significant step in the company’s development and forms an important part of the overall funding strategy for Mount Peake.
“The LSE is a leading destination for well-established resource 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 which are emerging for new global tier-1 vanadium assets such as Mount Peake.”
The London market has historically enjoyed a strong representation of resources companies, particularly those in the vanadium and strategic metals sectors.