The Vulcan Energy Resources Ltd (ASX: VUL) share price is pushing higher on Tuesday.
In morning trade, the lithium developer's shares are up 3% to $9.08.
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What's going on with the Vulcan share price today?
This morning Vulcan revealed that it will become the first ASX-listed company to have a dual listing on the regulated market of the Frankfurt Stock Exchange (FSE). This follows the submission of a dual listing application last week and the receipt of approval from the German Federal Financial Supervisory Authority (BaFin) today.
As a result of this approval, Vulcan's ordinary shares are expected to trade on the FSE under the ticker "VUL" from 15 February 2022.
Why is this a positive?
Management believes this could be a positive for the Vulcan share price as it will provide European investors with easy access to it shares. And given that its Zero Carbon Lithium Project is based in Germany, investor interest could be high.
Vulcan's Managing Director, Dr. Francis Wedin, commented: "An ASX first, the FSE dual listing will increase the international profile of Vulcan, while providing the full range of the European investment community an opportunity to invest in the Company and the Zero Carbon Lithium Project, which has a German base and plays a role in the EU energy transition."
"The Prime Standard has the strictest levels of governance and reporting on the FSE, including additional regulatory obligations and increased transparency requirements. The robust requirements ensure Vulcan meets the highest calibre of corporate governance," he added.
This news is the likely to have gone down well with analysts at Germany-based Alster Research.
In a recent note, it suggested that this listing could be a positive catalyst for the Vulcan share price, which it believes is significantly undervalued.
The broker said: "At this point, Vulcan has marketed its initial production volumes for the first 5-6 years. We expect the upcoming definitive feasibility study (DFS) to create some leeway. In the near term, we expect the admission to FSE as a catalyst for the stock, as future capital increases will be accessible to a broader audience. Thus, liquidity and interest will most likely increase. We confirm our PT of AUD 25.00, equivalent to EUR 15.81, and reiterate our BUY recommendation."
