London- and Johannesburg-listed mining, metals and innovation firm Tharisa has established a Degree 1 American Depositary Receipt (ADR) programme, with JP Morgan appointed because the depositary financial institution, with impact from June 8.
The ADR programme will allow US-based traders to realize publicity to Tharisa by way of dollar-denominated ADRs buying and selling within the US over-the-counter (OTC) market. Every Tharisa ADR will signify ten bizarre shares of the corporate, with the underlying bizarre shares to proceed buying and selling on the JSE and the LSE.
Tharisa states that the platinum group metals (PGMs) and chrome it produces at its Tharisa mine, in South Africa, and the PGMs it’s planning to provide at a mission it’s growing, in Zimbabwe, are recognised as important minerals within the US and different main economies and, as such, appeal to growing consideration from traders looking for publicity to the power transition, clear air applied sciences and future going through applied sciences together with AI.
“The institution of our ADR programme marks a significant step in broadening Tharisa’s international investor attain. The US is a sexy jurisdiction and we’re seeing vital curiosity in important and strategic minerals, the very commodities on the coronary heart of our enterprise.
“The entire commodities we mine fall into each classes, and this programme provides US traders a easy, accessible and acquainted mechanism by way of which to entry our fairness story. It’s per our technique of enhancing optionality, enhancing liquidity and reaching the widest doable pool of institutional and retail traders who recognise the worth of what we’re constructing at Tharisa,” feedback Tharisa CEO Phoevos Pouroulis.
