PLS on social media, page-912

Why did they have to announce in the first place they are looking to sell part of the business .... what purpose does it serve?

Continuous Disclosure

As a publicly listed company Pilbara Minerals has obligations under the Corporations Act 2001 (Cth) (Corporations Act) and the ASX Listing Rules to keep the market fully informed of all information which may have, or could reasonably be expected to have, a material effect on the price or value of its securities.

The ASX Listing Rules contain provisions requiring the continuous disclosure of information to keep the market informed of events and developments as they occur.

ASX Listing Rule 3.1 provides that once the Company becomes aware of any information concerning it that a reasonable person would expect to have a material effect on the price or value of the Company's securities, the Company must immediately disclose that information to the ASX.