Ajax Resources takes a step toward dual listing on Euronext Growth Oslo
Ajax Resources indicated on October 12, 2026 that it has completed the financial and legal audits required prior to its admission to Euronext Growth Oslo, a milestone that remains subject to final approval by the Norwegian exchange. The group, listed on the Aquis Growth Market, intends to maintain this London listing and operate on two markets in due course.
A dual listing to expand the investor base beyond the United Kingdom
A British investment company focused on natural resources, Ajax Resources was listed on the Main Market of the London Stock Exchange as a SPAC before becoming an operational investment vehicle. It focuses on assets containing copper, gold, silver, zinc, uranium and lead, with the objective of advancing them from development to production. The proposed admission to Euronext Growth Oslo is part of this trajectory. According to the board of directors, the dual listing structure should expand the company's presence in Norway, in the Nordic countries and across the Euronext network, while preserving access to its existing British shareholder base. The board believes that this admission will support liquidity, visibility and price formation of the security, as the group conducts exploration and resource definition programs in Argentina, Brazil, Chile and Spain. Bowsprit Partners Limited had been appointed as Euronext Growth adviser on April 28, 2026.
A private placement at a floor price higher than the latest price
Admission is conditional on a private placement of new shares, with Euronext Growth Oslo rules requiring a minimum fundraising of 2.5 million euros and a minimum price of 1 Norwegian krone per share. This floor is currently equivalent to approximately 8 pence, representing a premium of approximately 25.5% on the closing price of 6.375 pence recorded on Aquis on October 9, 2026. The company clarifies that this amount of 8 pence constitutes an indicative equivalent and not a fixed issue price. For comparison, the subscription of 1 million pounds completed on January 27, 2026 was concluded at 8 pence per share. The size, price and final terms will be determined by the board based on market conditions and demand. The transaction must also satisfy the requirement for capital dispersion, which requires at least 30 shareholders each holding securities with a minimum value of 5,000 Norwegian crowns (approximately 400 pounds) at admission. Ajax Resources is targeting Nordic and European institutional investors, as well as investors specializing in natural resources, and will announce the timetable and final conditions of the transaction at a later date.
