Eclipse Metals Ltd (ASX:EPM) has strengthened its reach into Europe by commencing trading on Germany’s Tradegate Exchange under the ticker 9EU.
This follows Eclipse’s listing earlier this month on the Frankfurt Stock Exchange with both listings aimed at harnessing the strong interest being expressed by potential European investors in the company’s projects in Greenland.
About Tradegate
Tradegate is a fully regulated German trading exchange, which is 60% owned by Deutsche Börse (ETR:DB1) AG, one of Europe's largest exchanges.
This exchange facilitates trading in more than 10,000 securities from around the world and is the primary exchange for retail share trading for large German and French banks such as Deutsche Bank (ETR:DBKGn), Commerzbank (ETR:CBKG) and BNP and many of the European online brokers such as Trade Republic.
READ: Eclipse Metals to harness European interest as trading starts on Frankfurt Stock Exchange
The company said that the Tradegate listing complemented the previous Frankfurt exchange listing on January 4 and facilitated European and Scandinavian investors being able to purchase and trade its shares with low transaction costs.
Reaching Europe
While the ASX remains the primary listing, Eclipse said the moves would promote its corporate profile in Europe and trading liquidity and would facilitate access for retail investors from European and Scandinavian countries.
In regard to the Frankfurt listing, Eclipse Metals executive chairman Carl Popal said: “Eclipse Metals has attracted considerable interest from investors outside Australia and in particular Scandinavian regions where there is an awareness of the company’s projects.
"Greenland hosts a quarter of the world’s rare earth minerals in a favourable mining jurisdiction, and we expect increased interest from European investors, stakeholders and OEMs as project development work continues.”
DGWA appointment
To enhance its European efforts, Eclipse has appointed Frankfurt-based DGWA (Deutsche Gesellschaft für Wertpapieranalyse GmbH), the German Institute for Asset and Equity Allocation and Valuation, as its investor relations and corporate advisor in Europe.
DGWA will assist the company to engage with retail, institutional and large private investors in the German-speaking DACH region (Germany, Austria and Switzerland) with a population of close to 100 million people, as well as the rest of Europe and the United Kingdom.
The European adviser will also assist Eclipse with expanding its European profile for investor and stakeholder awareness of the company’s activities at the Ivigtût project in Greenland.