Mint Innovation Eyes ASX IPO for Expansion
▼ Summary
– Mint received in-principle advice from the ASX that its structure and operations are suitable for listing, pending necessary waivers and confirmations.
– The company plans to lodge its prospectus with ASIC in the coming weeks and has submitted requests for required in-principle waivers.
– Mint’s CEO highlighted that global demand for critical and precious metals exceeds supply, and their platform recovers value sustainably from e-waste like circuit boards and batteries.
– The ASX suitability review is valid for three months and subject to the exchange’s discretion under Listing Rule 1.19.
– Mint Innovation uses biomass and smart chemistry to extract green metals from waste, has launched commercial-scale PCB recovery technology, and has received multiple awards for its innovations.
Mint Innovation has confirmed its intention to pursue a public listing on the Australian Securities Exchange (ASX), marking a pivotal step in its global expansion strategy. The company announced it received preliminary approval from the ASX regarding its structural and operational suitability for listing, pending the fulfillment of standard regulatory conditions and waivers.
In the upcoming weeks, Mint plans to formally submit its prospectus to the Australian Securities and Investments Commission (ASIC). This document will outline the complete details of the proposed initial public offering. The company has already filed the necessary submissions to secure the required in-principle waivers and confirmations from the exchange.
Dr Will Barker, Co-founder and CEO of Mint, highlighted the growing imbalance between global demand and supply for critical and precious metals. He emphasized that the company’s award-winning technology platform is uniquely equipped to address this issue by sustainably recovering valuable materials from electronic waste, such as printed circuit boards and lithium-ion batteries. With governments worldwide increasingly focused on strengthening domestic refining capabilities, Dr Barker sees substantial potential for scaling Mint’s operations and looks forward to bringing investors along in this growth phase.
It is important to note that the ASX’s initial suitability assessment remains valid for three months. However, final admission to the official list is always subject to the exchange’s discretion under Listing Rule 1.19.
Once the securities are officially offered, the prospectus for Mint’s share offering will be made publicly available. Interested parties will need to complete the application form included with the prospectus to participate in the offering. The company has committed to providing additional updates as soon as the prospectus is formally lodged with regulators.
Mint Innovation is recognized as a pioneering cleantech firm dedicated to integrating circular green metals into local economies. Its innovative process leverages naturally occurring biomass, hydrometallurgy, and advanced chemistry to safely extract valuable metals from various waste streams. In 2022, Mint launched the world’s first commercial-scale printed circuit board recovery facility in Sydney. The company now aims to deploy this technology internationally and adapt it to process other problematic waste categories.
The firm’s patented systems have earned significant accolades, including being named a runner-up in the ‘Outstanding Projects’ category at Mission Innovation’s Net-Zero Awards during COP28. Mint also secured dual wins at the 2023 InnovationAus Awards for Advanced Manufacturing and Energy and Renewables. In 2022, the World Economic Forum honored Mint as a Technology Pioneer, underscoring its influential role in sustainable industrial innovation.
(Source: ITWire Australia)