Ionic Rare Earths (ASX:IXR) said it intends to apply for the admission of its shares to trade on the AIM market of the London Stock Exchange, according to a Thursday filing with the Australian bourse.

AIM is the London Stock Exchange's international market for smaller and growing companies.

The AIM admission will be complementary to the company's existing Australian Securities Exchange listing, the filing said.

Shares fell 5% in midday trade in Australia Thursday.