Brookside Energy (ASX: BRK) announced its plans to pursue a listing via American Depositary Shares on the NYSE American exchange.
The move aligns with the company's goal to increase its presence in the US market and attract a broader range of international investors.
The company has already begun the process of appointing advisors, external counsel, US accountants, and independent experts to meet the regulatory and financial requirements of the listing.
Brookside Energy will maintain its primary listing on the ASX, with the ADSs representing the underlying ASX-listed shares at a ratio yet to be determined.
Additionally, Brookside Energy plans to undergo a capital consolidation, subject to shareholder approval, to streamline its share structure.
The proposed 1-for-50 consolidation aims to reduce the number of fully paid ordinary shares to approximately 95,457,580, making the shares more appealing to international investors and aligning with the company's strategic objectives.
"This is a pivotal moment for Brookside as we take meaningful strides to expand our footprint in the US market through a proposed listing on the NYSE American exchange," said Brookside Energy Managing Director David Prentice.
"We are confident that these initiatives will position the company for long-term growth and create significant value for our shareholders," Prentice added.
Brookside Energy is an ASX-listed company engaged in the exploration, production and appraisal of oil and gas projects. It operates in the oil and gas sector through its activities in the industry focused on the mid-continent region of the United States.