Metals firm TNG wants a London Stock Exchange IPO
Australian strategic metals company TNG today confirmed it is seeking to list on the London Stock Exchange (LSE).
As yet, no decision has been taken as to whether TNG will look to raise funds through the initial public offering (IPO), which it expects to complete by 2020.
Read more: Boeing’s earnings slump 51 per cent after 737 Max ban
TNG’s main project is the development of its Mount Peake vanadium-titanium-iron project in Australia’s Northern Territory.
Managing director and chief executive Paul Burton said that the move was “an important part of the overall funding strategy for Mount Peake”.
He added: “TNG presents an attractive investment opportunity through providing exposure to one of the most advanced and largest undeveloped vanadium-titanium-iron projects in the world.”
Vanadium is used across the manufacturing and chemical industry, with applications ranging from jet engines to batteries.
Steel manufacturing accounts for over 85 per cent of current demand for the “miracle metal”, which adds strength, hardness and water resistance to the final product.
According to Research and Markets’ Vanadium report, published in October, the global vanadium market is projected to grow by $17.5bn (£13.6bn) by 2025.
Read more: Vanguard slashes fees in escalation of European fund price war
The LSE has historically had a strong representation of resource companies, including vanadium and strategic metals companies.
TNG will undertake an investor roadshow in the first quarter of 2020.