Harena launches American Depositary Receipt programme
Harena Rare Earths has established a sponsored Level 1 American Depositary Receipt (ADR) programme in the US, with JPMorgan Chase Bank appointed as depositary bank.
Harena says the launch comes at a time of increasing strategic focus on securing reliable and diversified supplies of critical minerals, particularly rare earth elements essential to defence, advanced manufacturing, clean energy technologies and other high-growth industries.
With its Ampasindava project, in Madagascar, Harena says it is well positioned to contribute to the development of alternative rare earth supply chains outside China, supporting growing efforts to strengthen supply chain resilience and reduce reliance on concentrated sources of production.
Against this backdrop, the company says the ADR programme represents an important step in broadening Harena’s international investor base, enhancing its visibility among US investors and increasing awareness of the company’s strategic potential within the global critical minerals sector.
Each ADR will represent 100 ordinary shares in Harena and will trade in dollars under the ticker symbol NDPRY.
The company explains that its existing ordinary shares will continue to trade on the main market of the LSE under the ticker HREE.
“We are delighted to have worked with JPMorgan to launch our US ADR programme, deepening our presence in the US capital markets and giving American investors, whose interest in Harena is growing rapidly, direct access to one of the most significant rare earth projects outside China.
“With our mining permit now in place and drawdowns under way on our US government financing from the Development Finance Corporation, Harena is advancing at pace,” says Harena executive chairperson Ivan Murphy.