Business

Argo Blockchain Starts Sale of US Shares

The company is offering 7.5 million ADSs, each representing 10 of the company’s common stock.

Argo Blockchain, the only crypto miner listed on the London Stock Exchange, said it has started selling American Depositary Shares for trading on the Nasdaq Global Market.

  • The company is offering 7.5 million ADSs, each representing 10 of the company’s common stock.
  • Argo shares rose as much as 9.5% in early London trading to £1.43 ($1.98).
  • The London-based company announced the sale last month, and has applied for the ADSs to trade under the ticker “ARBK.”
  • In March, Argo acquired the New York firm DPN LLC, bringing it ownership of a chunk of land in West Texas for the construction of a new cryptocurrency mining facility, and has been raising funds in recent months.
  • In June it secured a £14 million (US$19 million) loan from Galaxy Digital, which last week lent it another £18 million (US$25 million).

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