Liquefied Natural Gas Limited (LNG Ltd) announced that the Board, having reviewed options submitted by five investment banks, will likely list on an appropriate US stock exchange listing.
This listing will take place near the time of commencement of full construction of the Magnolia LNG project, resulting in a dual listing with the company’s existing shares on the ASX (Australian stock exchange).
LNG Ltd’s American Depositary Receipts (ADRs) are already traded on the OTC International platform in the US, and a dual listing is the next logical step.
The exact timing of the US listing, as well as the size or format of any capital raising to be undertaken, are yet to be determined.
Following the listing, the company will consider further options to unlock value for all LNG Ltd shareholders at the North American asset or project level.
Adapted from press release by Katie Woodward