Cobalt Holdings plans to raise $230m in London listing
Cobalt Holdings said on Monday it plans to raise $230-million through a global offer and potentially list its shares in the London Stock Exchange, aiming to offer investors pure-play exposure to prices of cobalt. The company, which has a contract with Glencore to buy an initial $200-million worth of cobalt from the global miner, said it plans to use the proceeds from the equity raise to execute the purchase of the metal, a core component in electric vehicle batteries.
Cobalt Holdings said on Monday it plans to raise $230-million through a global offer and potentially list its shares in the London Stock Exchange, aiming to offer investors pure-play exposure to prices of cobalt. The company, which has a contract with Glencore to buy an initial $200-million worth of cobalt from the global miner, said it plans to use the proceeds from the equity raise to execute the purchase of the metal, a core component in electric vehicle batteries.
