Vulcan (ASX:VUL) shares close higher on dual listing announcement 

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Vulcan (ASX:VUL) shares close higher on dual listing announcement 

ASX Vulcan dual listing on FSE
Image source: © Bdriver | Megapixl.com

Highlights

  • ASX-listed Vulcan Energy will soon start trading on the Frankfurt Stock Exchange.
  • VUL's pre-existing listing on the Australian Stock Exchange has remained unaffected by the dual listing.  
  • The dual listing is likely to boost VUL's international profile. 

The shares of Vulcan Energy Resources Limited (ASX:VUL) closed 0.791% higher at AU$8.910 per share on Tuesday following dual listing announcement.

As per the release, Vulcan will become the first ASX-listed company to dual list on the regulated market of the Frankfurt Stock Exchange (FSE).

Listing details 

The German Federal Financial Supervisory Authority has finally approved the mineral explorer's listing prospectus announced on 8 February 2022.

The company expects to trade on the FSE under the ticker code "VUL" from 15 February 2022 as it got approval from BaFin for its Prospectus.

Vulcan claims to be the first ASX-listed company to have a dual listing in the Prime Standard market segment of FSE.

Related read - Dexus (ASX:DXS) shares rise after 82% jump in profit

Meanwhile, Vulcan's pre-existing listing on ASX is unaffected by the dual listing announcement. It will retain its existing primary listing on the ASX under its ongoing ticker name - VUL.

Vulcan's managing director Dr Francis Wedin said that the FSE dual listing would likely boost Vulcan's international profile. Moreover, it will provide a full range of the European investment community an opportunity to invest in the company, he said.

Road ahead

As Prime Standard has the strictest levels of governance and reporting on FSE, VUL needs to ensure the highest calibre of corporate governance.

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