Tritium to get listed on NASDAQ this month, ASX-listing uncertain

January 10, 2022 05:18 PM AEDT | By Priyanka Payal
 Tritium to get listed on NASDAQ this month, ASX-listing uncertain
Image source: © Sadeq68 | Megapixl.com

Highlights 

  • Tritium is likely to get listed on NASDAQ soon.
  • There are no indications of the EV charging player to appear on ASX despite the Company’s headquarters Australia.
  • The last step for Tritium’s public debut involves a shareholder vote on 12 January.

Brisbane-based Electric Vehicle (EV) fast-charging company Tritium is again making headlines. The Company is likely to get listed on NASDAQ soon.

So far, however, there are no indications of the EV charging player to appear on ASX despite the Company’s headquarters being in Australia.

After reporting a record-breaking fourth-quarter result, investors are curiously waiting for the company’s listed future. Now, the last step for Tritium’s public debut involves a shareholder vote on 12 January.

It is believed that the Company is facing months-long shipping delays and a surge in demand in North America, which has witnessed a sharp uptick in the adoption of EVs propelled by Biden administration policies.

Tritium, which struck a deal with a special purpose acquisition Company in last May, more than doubled sales in the December 2021 quarter to a record US$41 million (AU$57 million).

Tritium’s willingness to become a publicly listed company started in May 2021. During a boom in special purpose acquisition companies (SPACs), the Company entered into a partnership with Decarbonisation Plus Acquisition Corporation II (NASDAQ:DCRN).

The two business entities have been working on the merger for Tritium to be taken public. After approximately eight months, the last steppingstone is a shareholder vote on the proposed business combination with Tritium.

As of now, the world’s second-largest fast-charging company has not shared any intention of getting itself listed on the ASX. Rather, Tritium’s future currently lies exclusively with the Nasdaq exchange in the US. This is seen as a reflection of the Company’s composition of sales.

As per the investor presentation, 20% of Tritium’s sales are reported in North America. Comparatively, only 10% of the EV charging company’s sales belong to the Asia Pacific region. Surprisingly, roughly 70% of total sales are made in Europe.


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.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.