{"id":141724,"title":"Ajax Targets €2.5m Raise at Premium Ahead of Euronext Growth Oslo Listing","publisher":"Share Talk","author":"sharetalk","published":"2026-10-12T07:33:19+00:00","modified":"2026-10-12T07:33:19+00:00","canonical_url":"https://www.share-talk.com/ajax-targets-e2-5m-raise-at-premium-ahead-of-euronext-growth-oslo-listing/","markdown_url":"https://www.share-talk.com/ajax-targets-e2-5m-raise-at-premium-ahead-of-euronext-growth-oslo-listing.md","json_url":"https://www.share-talk.com/ajax-targets-e2-5m-raise-at-premium-ahead-of-euronext-growth-oslo-listing.json","category":"Mining","categories":["Mining"],"tags":["Ajax","Ajax Resources Plc","Alagoas State","Argentina","BRAZIL","COPPER","Eureka","Euronext Growth","Gold","Ippolito Ingo Cattaneo","Jujuy","M.Sc.","Mr. Elton L.S. Pereira","Oslo","Pereira Velho Exploração S.A.","Pereira Velho Gold Project"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/9e3e659d-5062-4341-9fef-6a20ff6a6468.png?fit=1727%2C910&quality=80&ssl=1","format":"news","language":"en-GB","content":"[Ajax Resources Plc (AQSE: AJAX)](https://www.investegate.co.uk/announcement/rns/ajax-resources--ajax/update-on-proposed-euronext-growth-oslo-admission-/9816826) has advanced plans for admission to **Euronext Growth Oslo**, completing independent Norwegian legal and financial due diligence ahead of a proposed minimum **€2.5 million equity financing**.\n\nThe proposed admission remains subject to **final approval from Euronext Growth Oslo and completion of the fundraising**.\n\nUnder the Oslo admission requirements, Ajax must raise at least €2.5 million and issue the new shares at no less than **NOK 1.00 each**.\n\nAt current exchange rates, NOK 1.00 is equivalent to roughly **8p per share**, around **25.5% above Ajax’s 6.375p closing mid-market price on Aquis on 9 October**.\n\nHowever, the company stressed that the 8p figure is only an **indicative sterling equivalent of the Norwegian minimum price**, rather than confirmation of the eventual placing price.\n\nFor comparison, Ajax completed a **£1 million equity subscription at 8p per share in January 2026**.\n\nThe final size, price and terms of the financing will depend on market conditions and investor demand.\n\nAjax expects the fundraising to broaden its shareholder base across **Nordic and European institutional, natural-resources and sophisticated investors**.\n\nEuronext Growth Oslo also requires at least **30 qualifying shareholders**, each holding shares worth a minimum NOK 5,000, or roughly £400. Ajax expects the new financing to satisfy that free-float requirement.\n\nProceeds are intended to fund further exploration and development across the company’s international portfolio.\n\nThat includes additional drilling at the **Macacha copper-silver project in Argentina** beyond its already funded initial 5,000-metre programme, and potential follow-up drilling at the **Pereira Velho gold project in Brazil** after the fully funded initial 3,000 metres.\n\nFunding could also support work at the **Paguanta silver-copper-lead-zinc project in Chile**, subject to completion of its proposed acquisition.\n\nIf Ajax exercises its option over the **Nueva Celti copper project in Spain**, around **€500,000** is budgeted for a 3,000-metre drilling programme intended to support a maiden JORC-compliant Mineral Resource.\n\nCapital may also be used for potential acquisitions and for costs associated with the Oslo admission and financing.\n\nAjax intends to **retain its Aquis Growth Market quotation**, creating a dual-market structure rather than leaving the UK exchange.\n\nFor investors, the key attraction is the potential to raise fresh capital at a price above the current Aquis market level while gaining exposure to a Nordic investor base with significant natural-resources expertise.\n\nThe principal near-term uncertainties remain **completion of the minimum €2.5 million financing, the final issue price and terms, and formal approval of the Oslo admission**.\n\nThe next announcement is expected to provide the financing terms, timetable and proposed admission date."}