Nov 22, 2022 08:48 PM

BUSINESS

China’s Top Nickel Trader Mines for $600 Million in Hong Kong IPO

Chinese nickel trader Lygend Resource & Technology has filed for an IPO in Hong Kong seeking to raise up to HK$4.6 billion.

Chinese nickel trader Lygend Resource & Technology has filed for an IPO in Hong Kong seeking to raise up to HK$4.6 billion.

China’s leading nickel trader Lygend Resources & Technology Co. Ltd. has kicked off its Hong Kong IPO and is aiming to raise up to HK$4.64 billion ($594 million) in fresh capital.

Lygend is one of a handful of metal providers that have raked in profits from the boom in popularity of electric vehicles (EVs) in China in recent years as nickel is a key ingredient of EV batteries alongside lithium.

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