The Li-S listing date was stalled for a month by issues surrounding its escrowed shares has finally been given the go-ahead for its 85 cent shares to start trading on Friday after a $34 million capital raising.
The company, in which PPK retains a 50.12 per cent stake, holds the technology for a lithium-sulphur battery that PPK claims is far superior to current products on the market.
“Considering the large oversubscription for the Li-S Energy initial public offering we are expecting strong underlying support for the company once listed as it continues to build out its array of prototype test batteries and continues to engage with global manufacturers and end users of batteries,” PPK said in its recent annual report.
The batteries, which have an increased density and a longer life, have help spur PPK’s shares to more than $20 in recent weeks, however the recent market downturn has pushed the shares back below that level.
PPK’s next spinoff is likely to be White Graphene Ltd a company which is planning to use the material in several commercial applications.
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