- Ioneer (INR) commences trading on the NASDAQ under an American Depositary Receipt (ADR) listing, under the symbol IONR
- The ADR program will complement the company’s existing primary listing on the ASX
- Executive Chairman James Calaway says the listing is consistent with Ioneer’s ambition to produce materials needed to develop electric vehicle and renewable energy supply chain infrastructure in North America
- The company says key work streams, including additional lithium off-take agreements, debt funding and detailed engineering and federal permitting, are progressing well.
- Shares in Ioneer were up 4.88 per cent to 43 cents at 10:21 am AEST
Emerging lithium-boron supplier Ioneer (INR) has commenced trading on the NASDAQ under an American Depositary Receipt (ADR) listing, under the symbol IONR.
The ADR program will complement the company’s existing primary listing on the ASX.
Ioneer confirmed the Securities and Exchange Commission (SEC) registration and NASDAQ listing process did not include a capital raise, and the company had a cash balance of approximately $144.2 million as of March 31.
Executive Chairman James Calaway said the company believed it was making it easier for the North American capital market participants to invest in Ioneer.
He also said the listing was consistent with the company’s ambition to produce materials needed to develop electric vehicle and renewable energy supply chain infrastructure in North America.
Managing Director Bernard Rowe added that the listing would be greatly beneficial to the company and its shareholders.
“There is a growing desire among North American investors to take part in the clean energy supply chain,” Mr Rowe.
“We are pleased ioneer will gain greater visibility through a leading North American capital market trading platform that is suited for future-forward companies like ours.”
Ioneer said key work streams, including additional lithium off-take agreements, debt funding and detailed engineering and federal permitting, were progressing well.
Shares in Ioneer were up 4.88 per cent to 43 cents at 10:21 am AEST.