Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) has announced plans for a dual primary listing of its common shares on the Main Board of the Stock Exchange of Hong Kong Limited (HKEx), the premier listing venue for Asia-based companies.
The Mongolia-focused gold miner, which is currently listed on the Toronto Stock Exchange, said the Hong Kong listing is anticipated to occur later in 2023.
In a statement, Bataa Tumur-Ochir, president and CEO of Steppe Gold, commented: "With approximately 40% of Steppe Gold's shareholders now based in Asian time zones, the company has decided to pursue a dual primary listing on the Main Board of the Hong Kong Stock Exchange in 2023.”
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The company said the Hong Kong listing will assist with historical liquidity and valuation issues and will also serve as a better venue for trading for its Asian-based shareholders, as Hong Kong and Mongolia are in the same time zone.
“With listings on both the Toronto Stock Exchange and HKEx, Steppe Gold will have a wider reach, offering greater accessibility and exposure to a broader pool of investors from both Asia and North America,” said Tumur-Ochir.
“As one of only a few companies in the mining and precious metals sector listed on the HKEx upon successful listing, Steppe Gold will be further differentiated, with increased visibility, making it an attractive opportunity for investors seeking investment opportunities in this sector," he added.
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