UPDATE 2-China's CATL buys into beaten down Australian lithium miner Pilbara [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Reuters
UPDATE 2-China's CATL buys into beaten down Australian lithium miner Pilbara - Reuters 3 Min Read (Recasts, adds detail, investor comment) MELBOURNE, Sept 4 (Reuters) - China electric vehicle battery maker CATL has taken a stake in Australia’s Pilbara Minerals, the lithium miner said on Wednesday, after a supply glut hammered the sector and forced it to raise equity to fund working capital. Contemporary Amperex Technology Co, one of China’s leading electric-vehicle battery makers, has bought an 8.5% stake in the company as part of a A$91.5 million ($61.8 million) capital raising, Pilbara said in an exchange filing. CATL bought the stake through a A$55 million placement while an additional A$36.5 million was raised through an institutional placement at A$0.30 a share. As recently as late May, Pilbara traded above A$0.80 a share. “Considering where the stock was closer to $1 not that long ago, it does seem quite dilutive to have to raise capital right now,” said a Melbourne-based fund m
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PKX
Sec Filings
- 5/16/24 - Form 6-K
- 5/14/24 - Form 6-K
- 5/2/24 - Form 6-K
- PKX's page on the SEC website