NexGen traded 6.1% higher at C$11.54 during pre-market trading in Toronto, within a 52-week range of C$4.91-C$12.00, for a market capitalization of C$6.2 billion ($4.5bn).
In a press release, NexGen said this offering will be marketed to Australian investors to enhance the liquidity, trading volumes and market capitalization of the company’s CHESS depositary interests (CDIs) listed on the ASX.
CDIs represent the beneficial interest in an underlying share, and are traded in a manner similar to shares in an Australian company listed on ASX. The exchange uses an uncertificated electronic system called CHESS for the electronic clearance and settlement of trades involving CDIs.
To create room for the shares to be distributed, the company has amended the at-the-market program announced in December by reducing the maximum value of common shares that may be sold from C$500 million to C$315 million. To date, about 14 million common…
