By Michael Susin
Neometals said it would delist its shares from London's Alternative Investment Market due to listing costs and challenges in raising capital.
The Australia-based battery materials producer on Friday said the listing is expected to be canceled on Feb. 3.
Holders of London-listed shares will have the opportunity to become shareholders on the Australian Securities Exchange, which will continue as the primary trading venue, Neometals said.
The board said trading on the AIM wasn't delivering sufficient value for shareholders, mainly due to difficulty of raising capital in the U.K. amid a challenging backdrop, low levels of liquidity, as well as listing costs and regulatory burdens.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
December 20, 2024 02:28 ET (07:28 GMT)
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