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Be the first with the news that moves the market- Sprott (TSX:SII) has received approval from the United States Securities and Exchange Commission (SEC) to list on the New York Stock Exchange
- The company originally submitted a Registration Statement on Form 40-F to the SEC on May 26, 2020
- Sprott says the listing was a natural next step, particularly given a surge in interest in precious metal investments
- The company’s shares are expected to begin trading on the NYSE as of market open on June 29, 2020
- Sprott (SII) is up 1.34 per cent and is trading at C$43.10 per share
Sprott (TSX:SII) has received approval from the United States Securities and Exchange Commission (SEC) to list on the New York Stock Exchange.
The company originally submitted a Registration Statement on Form 40-F to the SEC on May 26, 2020, as part of its application process. As such, Sprott will hold a dual listing on both the NYSE and the Toronto Stock Exchange.
Peter Grosskopf, CEO of Sprott, said listing on the NYSE is a significant milestone for the company and a natural next step in its evolution.
“We are pleased to offer our shareholders the ability to trade in US dollars and the expected increase in liquidity.
“With the current surge in global interest in precious metals investments, we believe this is an excellent time for the NYSE listing and look forward to introducing Sprott to a new and larger investor base,” he added.
Sprott’s shares are scheduled to begin trading on the NYSE upon the opening of the market on June 29, 2020.
Founded in 1981 by Eric Sprott, who the company calls an early champion of precious metals investing, Sprott’s specialised investment products include physical bullion trusts, managed equities, mining ETFs, and private equity and debt strategies.
The company is also known to partner with natural resource companies, and serves over 200,000 global clients with roughly C$12.1 billion in assets under management.
In late February this year, Sprott Inc’s TSX-listed shares took a marginal dive following the outbreak of the COVID-19 pandemic and the implementation of widespread shutdowns. However, the company has more than rebounded, posting a 112 per cent increase in its share price since March 12.
Sprott (SII) is up 1.34 per cent and is trading at $43.10 per share at 11:51am EDT.
