Ioneer’s expanded partnership with EcoPro to bolster U.S. lithium production | Diskussion im Forum

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7.11.
South Korea's Ecopro Materials IPO Priced at Bottom of Range
Ecopro Materials Co., which supplies materials for electric vehicle batteries, cut the size of its initial public offering and sold shares at the bottom of a marketed range due to weak demand.
https://financialpost.com/pmn/business-pmn/south-koreas-ecop…
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The sale of about 11.6 million shares at 36,200 won ($27.7) apiece will help the company raise 419.2 billion won ($319.2 million), according to a statement Tuesday. The fundraising is smaller than initially expected as the offering was reduced from an initial plan of 14.5 million shares amid price swings in EV-related stocks.

“Sentiment hasn’t been the best for the firm especially due to the poor outlook in the EV sector,” said Ethan Aw, an analyst at Aequitas Research, who publishes on Smartkarma. The demand wasn’t “that great” as investors deemed the price to be high despite it being at the bottom end of the range.

While the local IPO market was expecting larger deals in the third quarter after a year marked by small-ticket offerings, poor earnings for EV-battery stocks and a bleak sales outlook have battered investor sentiment. EV battery names such as LG Energy Solution Ltd. and Posco Holdings Inc. led Korean stocks lower Tuesday as a benchmark index slumped about 2%.

Nearly 20% of the institutional investors who participated in the bookbuilding for Ecopro Materials IPO placed offers at a price below the marketed range, the statement showed.

The share sale is the largest in South Korea since Doosan Robotics Inc.’s 421 billion won listing last month. Only six companies in the nation have executed IPOs larger than $100 million since January 2022, versus 18 in 2021. IPO proceeds in Seoul are down about 80% year-to-date, data compiled by Bloomberg show.
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Es handelt sich um einen automatisiert angelegten Thread zur Nachricht "Ioneer’s expanded partnership with EcoPro to bolster U.S. lithium production" vom Autor Business Wire (engl.)

Today, Ioneer Ltd (Ioneer or the Company) (ASX: INR, NASDAQ IONR), an emerging lithium–boron producer, and EcoPro Innovation Co Ltd (“EcoPro”), a global leader in battery grade high purity lithium hydroxide conversion, signed a Research and …

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