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- Arcadia Minerals (AM7) is getting ready to debut on the ASX after raising $6.4 million via an initial public offering (IPO)
- The Namibian-focussed exploration company is due to list on the ASX on June 24, under the ticker code AM7
- Under its IPO, Arcadia gave investors a chance to buy up to 29.5 million CHESS depositary interests (CDIs) at 20 cents per CDI
- The company will use the IPO funds to further explore its four projects in Namibia, with a primary focus on the Swanson tantalum and lithium project
- Arcadia Minerals is expected to list with an initial market cap of $19.8 million
Arcadia Minerals (AM7) is getting ready to debut on the ASX after raising $6.4 million via an initial public offering (IPO).
The Namibian-focused exploration company expects to list on the stock exchange on Thursday June 24, under the ticker code AM7.
It raised the more than $6 million through an IPO launched more than a month ago, with shareholders and investors offered a share of 29.5 million CHESS depositary interests (CDIs) at 20 cents per CDI.
The company said it plans to use the IPO funds to further explore its four projects in Namibia, with a primary focus on the Swanson tantalum and lithium project.
Arcadia’s Executive Chairman Jurie Wessels said the company will also search for new opportunities.
“Upon listing on ASX, Arcadia’s primary focus will be continued exploration of the
Swanson Project, including completion of a feasibility study,” Mr Wessels said.
“The company also plans to advance the exploration of the Kum-Kum, Karibib and Bitterwasser projects and seek to investigate additional exploration opportunities within Namibia which may present themselves from time to time.”
Upon listing on the ASX, Arcadia Minerals expects to have an initial market cap of $19.8 million.
