News and Announcements
Altech Dual Lists On the Frankfurt Stock Exchange
- Published April 04, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Altech Chemicals Limited (ASX:ATC) is pleased to announce the dual listing of the Company’s shares on the Frankfurt Stock Exchange. The Company’s shares trade under the symbol “A3Y” on the exchange.
KEY TAKEAWAYS:
- Dual listing of Altech shares on Frankfurt Stock Exchange.
- Altech shares trades under the symbol “A3Y”.
- Broadens Altech’s European investor appeal, particularly in Germany.
- Overcomes time zone issues for European retail investors.
The Frankfurt Stock Exchange dual listing supports Altech’s strategy to broaden its European investor base, particularly in Germany where there is growing interest in the Company’s high purity alumina (HPA) project.
As Altech’s shares were already quoted on the Australian Securities Exchange (ASX), a Frankfurt Stock Exchange approved “like” exchange, the dual listing was possible without primary listing procedures such as the filing of a prospectus, consequently the listing was conducted at minimal cost.
The Frankfurt Stock Exchange is the world’s third largest exchange-trading market as measured by trading volume, behind the New York Stock Exchange and NASDAQ. More than 50 percent of the total trades on the Frankfurt Stock Exchange are from investors located in countries outside of Germany.
ltech Chemicals Limited is aiming to become one of the world’s leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).
HPA is a high-value, high margin and highly demanded product because it is the critical ingredient required for the production of sapphire substrates, which are used in the manufacture of LED lights, alumina semiconductor wafers that are widely used in the electronics industry and for the manufacture of scratch resistant artificial sapphire glass used for watch faces, camera lenses and by various smartphone manufacturers. There is no substitute for HPA in the manufacture of artificial sapphire.
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