27th Feb 2024 10:16
(Alliance News) - Neo Energy Metals PLC said on Tuesday it had debuted on A2X exchange in South Africa, giving local investors an opportunity to invest in a uranium-focused operator in the country.
The uranium developer retains its primary listing on the London Stock Exchange and it became the first inward listing company to list on A2X on Tuesday.
Neo, which has a market capitalisation of GBP8.6 million, said on Tuesday last week it was pursuing a secondary listing in South Africa.
"Neo's secondary listing on A2X marks an exciting milestone in our journey, broadening our investor base and facilitating opportunities for strategic acquisitions, especially within South Africa," Neo Chief Executive Officer Sean Heathcote said.
"With significant South African shareholders already on board, our listing on A2X streamlines investment and trading in our shares, enhancing accessibility and liquidity," Heathcote said.
"The A2X has a strong track record as a leading destination for secondary listings, making it a natural secondary listing destination for a company like ours with an exciting uranium project in the Northern Cape," he said.
Neo shares were flat at 0.62 pence each in London on Tuesday morning. Over 12 months, the stock has shed 30% of its value.
By Artwell Dlamini, Alliance News reporter
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