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Trigg Minerals (ASX:TMG) has updated the market with its hopes to list on the Nasdaq, with the company pointing towards the fact it has “commenced [that] process.”
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This content has been prepared as part of a partnership with Trigg Minerals Ltd and is intended for informational purposes only.
The Australian company expects to be on the tech-heavy U.S. index within the next five months; the company noted on Thursday it had reviewed offers from SPACs and decided on a “mainboard” listing.
Long story short, the company’s going to list ADRs overseas after the board decided that was the most effective way to do it. “Trigg has not yet determined whether it would seek to raise capital in connection with a listing on Nasdaq,” the company wrote.
“Nasdaq dual-listing would open Trigg to the biggest and most liquid capital market in the world, providing a pathway to increased interest, investment and support from major U.S. investors, institutions, brokers, U.S. Government bodies and other potential corporate growth opportunities.”
(If that isn’t a loud hint nodding at the MP Materials deal from earlier this year, I don’t know what is.)
In the background, Tribeca Investment Partners (TIP) has further bought in via a $2.5M placement that followed a similar $5M placement in September.
“We’re pleased to participate in the ongoing resurgence in North American industrial and supply-chain investment. We believe this is an important milestone for TMG and its shareholders,” Trigg chair Timothy Morrison said.
TMG last traded at 15.5cps.
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