Gangfeng Lithium digs up plans for placement

By Rashmi Kumar
26 Feb 2021

Chinese company Gangfeng Lithium Co is gearing up to tap equity investors for as much as HK$4.9bn ($632m) from a private placement of its Hong Kong-listed shares, as it looks to raise money to expand some of its projects and investments.

The firm said in a filing that it plans to seek shareholder approval for the fundraising. On offer will be up to approximately 48m H-shares, or about 20% of Gangfeng Lithium’s total number of H-shares outstanding.

Based on Gangfeng Lithium’s Friday morning stock price of HK$101.9, the company ...

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