Jindalee (ASX:JRL) hails $7Mn IPO of spin-out Dynamic Metals (ASX:DYM) - Kalkine Media

January 13, 2023 11:40 AM AEDT | By Aditi Sarkar

Jindalee (ASX:JRL) hails $7Mn IPO of spin-out Dynamic Metals (ASX:DYM) — Image source: © Maksstock78 | Megapixl.com

Recent News

U.S. shares mixed at close of trade; Dow Jones Industrial Average up 0...

Stock Market Today: S&P closes lower in wild ride as Fed keeps rate un...

Fed keeps rates on hold as disinflation stalls, but downplays prospect...

Baker Tilly’s Insights: Does Your Not-for-Profit Organization Need an...

Highlights

Jindalee has completed the spin-out and Initial Public Offering (IPO) of Dynamic Metals Limited (ASX:DYM).

Dynamic Metals would be the primary vehicle for the development of Jindalee’s Australian nickel, lithium, and gold assets.

The IPO closed oversubscribed, with the offers to raise up to a maximum of AU$7 million.

Dynamic Metals is anticipated to start trading on the ASX from 16 January 2023.

Jindalee Resources (ASX:JRL) has provided an upbeat update concerning the successful completion of the spin-out and Initial Public Offering (IPO) of Dynamic Metals Limited (ASX:DYM).

Following the news, stock price of the company jumped by nearly 10% during the early trading hours of Friday (13 January 2023).

As per the company’s update in November 2022, DYM would be the primary vehicle for the development of Jindalee’s Australian nickel, lithium, and gold assets.

The IPO closed oversubscribed, with the offers to raise up to a maximum of AU$7 million. The ASX has informed that Dynamic has been admitted to the official List of ASX and is anticipated to start trading on the ASX from 16 January 2023.

More to come…

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

5 ASX Companies Leveraging AI to Drive Growth in 2024

Markets

Highlights

Disclaimer