Liquefied Natural Gas Limited said that its Board has reviewed options submitted by five investment banks and the company will likely list on an appropriate US exchange near the time of commencement of full construction of the Magnolia LNG project.
This would result in a dual listing with its existing shares on the ASX, the company said in a statement.
The company’s American Depositary Receipts are already traded on the OTC International platform in the United States under the symbol LNGLY.
At this stage, the board has made no decisions as to the exact timing of the US listing, nor the size or format of any capital raising to be undertaken in connection with the US listing.
Following the dual listing, the company will consider further options to unlock value for all LNGL shareholders at the North American asset or project level, it added.
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Image: LNG Limited