8th Jun 2026 10:03
(Alliance News) - Tharisa PLC on Monday launched an American depositary receipt programme to boost exposure to US investors.
The Cyprus-headquartered platinum miner said it has set up an ADR programme with JPMorgan Chase & Co as the depositary bank. Each ADR will represent 10 Tharisa ordinary shares.
This programme comes into effect on Monday under the ticker THARY, allowing US investors access to Tharisa via US dollar-denominated ADRs traded on New York's over-the-counter market.
In London, Tharisa shares were down 3.5% to 123.00 pence each on Monday morning. There were down 1.8% to ZAR26.91 in Johannesburg.
The company framed the ADR scheme within its "broader strategy to enhance accessibility of its securities to international investors, with a particular focus on the USA where interest in critical and strategic minerals continues to grow".
Tharisa noted that platinum and chrome have recognition as critical minerals in the US, prompting interest "from investors seeking exposure to the energy transition, clean air technologies and future facing technologies including AI".
Chief Executive Phoevos Pouroulis hailed this as "a meaningful step in broadening Tharisa's global investor reach".
"The United States is an attractive jurisdiction, and we are seeing significant interest in critical and strategic minerals, the very commodities at the heart of our business. All of the commodities we mine fall into both categories, and this programme gives US investors a simple, accessible and familiar mechanism through which to access our equity story," Pouroulis said.
Last month, Tharisa posted pretax profit for the six months ended March 31 of USD69.9 million, multiplied from just USD10.3 million a year earlier. Revenue rose 28% to USD359.4 million from USD280.8 million, while production of platinum group metals increased 17% to 73,100 ounces from 62,400 ounces, with an average basket price of USD2,599 an ounce, up 85% from USD1,403. Chrome production inched down to 753,300 tonnes from 755,400 tonnes.
By Holly Munks, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Tharisa PLC