Chilwa Minerals Limited (ASX: CHW) has announced that it is moving forward with plans for an Initial Public Offering (IPO) in the United States, targeting a dual listing on the Nasdaq mainboard. This strategic step follows an extensive review by the Company’s board, which evaluated the benefits and requirements of a U.S. listing.
To support the process, Chilwa has engaged U.S. legal counsel and is transitioning to a U.S.-qualified audit firm. The Nasdaq listing will be structured through an ADR program, allowing U.S. investors to trade Chilwa shares in U.S. dollars while maintaining the Company’s primary listing on the ASX.
The planned IPO aims to raise up to US$10 million, subject to market conditions and regulatory approvals. Key milestones include filing a registration statement with the U.S. Securities and Exchange Commission (SEC) and submitting a listing application to Nasdaq. Both will undergo review before the offering can proceed.
Chilwa notes that timing and completion of the IPO remain contingent on several factors, including regulatory clearance and prevailing market conditions. There is no guarantee regarding the final capital raised or the exact timeline for listing.
Cadell Buss, Managing Director of Chilwa Minerals Limited commented, “Today’s announcement marks an important milestone in our company’s history. In just over two years since our listing, we’ve consistently invested in resources that have advanced our mineral licence areas into a highly promising critical minerals asset.
After our visit to the US in June 2025, we have been diligently preparing behind the scenes to ensure this is the right move for our shareholders, our project, and ultimately the people of Malawi. The board believes that a US listing will help us achieve these objectives.”
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