Sweden-based mining company Nordic Iron Ore AB has applied for listing of its shares on NASDAQ OMX First North, the Nordic stock exchange. The company has also decided to issue new shares at a total value of SEK 140 million ($20.74 million).
According to Nordic Iron Ore's statement, the offer to subscribe for shares in the company is directed to the public and to institutional investors in Sweden and selected institutional investors outside of Sweden. The subscription price of the offer will not exceed SEK 29 per share.
The application period for the public is between February 2 and February 14, 2012 and while it is between February 2 and February 15, 2012 for institutional investors. Trading on NASDAQ OMX First North is expected to begin on February 16, 2012.