- Dual listing of Altech shares on Frankfurt Stock Exchange
- Altech shares trade 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. The Company's application for German export credit agency project finance cover, the high level of German and other European equipment for its proposed HPA plant and the appointment of a German engineering, procurement and construction (EPC) contractor for the project has heightened Altech's investment appeal for German and other European investors. Also, the Frankfurt Stock Exchange listing overcomes time difference and account issues for European retail investors.
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.
About Altech Chemicals Ltd
Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) 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 product because it is the major source material for scratch-resistant artificial sapphire glass. Sapphire glass is used to produce a range of high-performance electronic applications such as LEDs, semi-conductors, phosphor display screens, as well as new emerging products such as smartphones and tablet devices. The global HPA market is approximately 19,040tpa (2014) and is expected to at least double over the coming decade.
Altech Chemicals Ltd