Nouveau Monde Stocks (TSXV:NOU) Explode On NYSE Listing Plans

3 min read | April 01, 2021 07:14 AM EDT | By Shreya Biswas

Nouveau Monde Stocks (TSXV:NOU) Explode On NYSE Listing Plans

Nouveau Monde’ NYSE Listing – Key Insights

Nouveau Monde, a mining exploration company in Quebec, said on Monday that it has filed a preliminary prospectus with regulatory authorities for its NYSE listing. Once its receipt is confirmed, the company is expected to launch offerings to raise up to C$ 500 million over the following 25 months.

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It had announced its plans to get a US listing for its stock on February 16, although it had not mention then which bourse it was aiming for. Last week, on March 24, it confirmed that a majority of 98.43 per cent of its shareholders have greenlit the stock listing plan.

Following the approval, Nouveau Monde said that it will be executing a reverse stock split of its outstanding shares.

Nouveau Monde Graphite Inc (TSXV:NOU) – Stock Performance

Nouveau Monde stock has expanded by nearly 1,126 per cent in the past one year.

Although it has dropped nearly 31 per cent from its 52-week high of C$ 27.4 (February 11), the mining stock records a growth of over 84 per cent for this year.

1-year chart of Nouveau Monde’s stock performance (Source: EODHD/Others/Thomson Reuters)

The C$ 704-million market cap company holds a price-to-book (P/B) ratio of 211.1, a price-to-cashflow ratio (P/CF) of 25.8 and a debt-to-equity (D/E) ratio of 0.52, as per the data on TMX.

The Montreal-based firm secured net proceeds of close to C$ 22 million following two rounds of financings in January and February.

With a listing on the US markets, Nouveau Monde will be expanding its reach to a much wider shareholder base, a move that its current investors seem to be in support.

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