Resource News
Talison Lithium plans to list on ASX next month
By resourceINTEL · November 23, 2009 · 11:16 pm · Leave a Comment
LITHIUM producer Talison Lithium hopes to raise nearly $200 million when it lists on the Australian and Toronto stock exchanges next month.
An initial public offering from Talison will create gross proceeds expected to be in the range of $143.5m to $196.4m, the company said.
“Approximately $143.5m to $178.5m of the gross proceeds of the offer will be used by the company to repay all existing senior debt, pay for the costs of the offer and for corporate and working capital purposes,” Talison said today.
“On completion of the offer Talison Lithium is expected to be in a robust financial position with a producing lithium mine, minimal debt and a strong cash balance to fund growth opportunities.”
After the offer, existing shareholders of the company will hold 54.7 to 58.8 per cent of the company.
The largest shareholder in the company, Resource Capital Fund, will own 29.3 per cent to 33.4 per cent of the stock.
It is expected shares in the company will begin trading on the Australian share market on December 18, with an indicative price range of $4.10 and $5.10 per share…read more at The Australian
