Advanced Energy Minerals (ASX:AEM), a producer of high and ultra-high purity alumina, officially commenced trading on the ASX on Dec. 24 under the ticker “AEM,” following a well-supported initial public offering that raised approximately $44.8 million at an offer price of $0.53 per share.
The listing gives the company an initial market capitalisation of around $312 million and an enterprise value of approximately $272 million.
The IPO attracted participation from institutional, family office, and sophisticated investors in Australia and internationally, as well as existing shareholders.
AEM operates a commercial-scale HPA facility in Cap-Chat, Quebec, with a current capacity of 2,000 tonnes per annum, positioning it among the largest non-Chinese HPA producers globally.
The company plans to increase production to 3,000 tonnes in 2026 and 6,000 tonnes by 2029, supported by funding from Investment Quebec and Economic Development Canada.