PPK spin-off goes missing as shares rocket
Commercialiser PPK cracked the $20 a share mark today, marking a 12-month rise of 230 per cent for the stock that is at the cutting edge of battery development.
But its battery spin-off Li-S Energy has gone missing.
After being swamped with demand for shares in its $34 million float earlier this year the stock that was expected to list in August, then September 3, now it doesn’t have a date at all.
More than a week ago, PPK issued a statement saying it had made an application to the ASX and it was progressing that, but there were still a number of steps before the exchange was in a position to confirm conditional listing approval.
“It is expected these steps will be dealt with a conditional listing approval provided shortly,” the company’s statement said.
Since then, nothing.
Li-S holds the technology for lithium sulphide batteries using boron nitrate nanotubes which act as an insulator in the battery.
PPK has claimed that the battery is three times better than existing lithium-ion batteries used in electric vehicles.
It has also indicated it could float off another BNNT-related business, White Graphene.
PPK has yet to respond to requests for clarity.
But PPK is not alone in its meteoric rise on the market to $20.05 today. Novonix is up 147 per cent over the past 12 months, AnteoTeach 310 per cent, Bowen Coking Coal 240 per cent, Coronado 107 per cent, Eagers Automotive 94 per cent and Domino’s 95 per cent.
