The Vulcan Energy Resources Ltd (ASX: VUL) share price is falling in morning trade, down 3.55%.
Below we take a look at the ASX energy share’s proposal for a dual listing.
What did Vulcan propose?
Vulcan Energy’s share price is sliding after the company announced it has applied to dual list on the Frankfurt Stock Exchange (FSE). Vulcan intends to list in the Prime Standard market segment with high transparency requirements.
The company said the dual listing will boost its international profile and open the door for European investors to easily access shares.
Joh. Berenberg, Gossler & Co. KG (Berenberg) – the world’s oldest merchant bank – has been appointed as listing advisor.
Commenting on the dual listing, Vulcan’s managing director Francis Wedin said:
Given the German base and role in the EU energy transition of our Zero Carbon Lithium Project, Vulcan is aiming to increase its European investor base and international exposure, whilst meeting and exceeding the highest standards of governance, reporting and transparency.
This planned dual listing on the regulated exchange of the FSE, a first for any Australian company, will assist with this process. We look forward to working with Berenberg and our other advisors on this process, in what we hope will be an exciting next step for all shareholders as the company evolves.
Vulcan said it expects the listing process to take 6–9 months. Once completed, Vulcan will be the first Aussie company listed on the regulated market of the FSE.
Vulcan Energy share price and company snapshot
Vulcan Energy is working to supply the European electric vehicle revolution with lithium to power the batteries. The company’s goal is to become the world’s first lithium producer with net zero greenhouse gas emissions.
And its shares have been going gangbusters.
Vulcan Energy’s share price has gained an eye-popping 2,146% over the past 12 months. Over that same time the All Ordinaries Index (ASX: XAO) is up 25%.
Year-to-date the Vulcan Energy share price has continued to outperform, up 378% in 2021.
The post Up 2,146% in 1 year, Vulcan Energy (ASX:VUL) share price falls on dual listing news appeared first on The Motley Fool Australia.
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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