Lithium Producer Ganfeng Climbs After Filing $1-billion Hong Kong IPO

Ganfeng, one of the world’s top lithium producers, will use the money for acquisitions, further exploration and to expand capacity

Shares of China’s Ganfeng Lithium (SZSE:002460) surged more than 6 percent after the company filed for an initial public offering in Hong Kong.
The Shenzhen-listed company has hired Citi for the process and could raise at least $1 to $1.5 billion, sources told the Financial Times on Wednesday (February 14).
Ganfeng, one of the world’s top lithium producers, will use the money for acquisitions, further exploration and to expand capacity to meet rapidly growing demand from the electric vehicle (EV) sector.

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