MMG CEO Andrew Michelmore rang the bell in Sydney this morning, heralding the listing as a new chapter for the Melbourne-based, Chinese-backed base metal miner.
“MMG remains committed to its objective to be valued as one of the world’s top mid-tier miners by 2020,” he said.
“Listing on the ASX enables more investors to share in the success of our company as we continue to grow and unlock even greater value from our portfolio,” he said.
Last month Michelmore said the company would likely use the listing to tap Australian investors as part of a capital raising and/or restructure of its balance sheet, but gave no timeline for any such action.
The company was formally admitted to the list on Thursday as an ASX Foreign Exempt Listing with the ticker code MMG.
No raising or offer of shares was conducted in connection to the listing.
The company’s quoted securities comprise 264.5 million shares in the form of CHESS depositary interests, with one CDI equivalent to 10 ordinary shares.