Confirmation that Argo Blockchain is looking to list in the US via a dual-listing with American Depositary Shares (ADS) has given the ARB share price a much welcomed 20 percent boost on Wednesday.
Investors had eagerly been anticipating greater exposure to the US public markets for Argo in order to counter the discrepancy between valuations placed on UK-listed Cryptocurrency miners versus those that are listed in the US.
Previously, ShareBuyers had highlighted the discrepancy ( Argo Blockchain still looks seriously undervalued, here’s why… ) and while the likes of Marathon and Riot have also seen falls in their share price – they still stand strong with a m. cap of over $2bn USD compared to Argo’s current m. cap of a little over $500m USD.
Argo’s dual-listing is expected to take place during the third quarter of this year:
The number of ADSs to be offered and the price range for the Proposed Offering have not yet been determined. The Proposed Offering is expected to commence in the third quarter of 2021 after the SEC completes its review process, subject to market and other conditions.Argo Blockchain – Submission of Confidential Draft Registration Statement for Proposed Offering
Following today’s boost, the Argo Blockchain share price is currently trading at 102p with a gain of over 2000% across a one-year time-frame.