Reported Earlier, NOVONIX And Lithium Energy To Combine Natural Graphite Interests With Intention To Take Combined Business Public
Portfolio Pulse from Benzinga Newsdesk
NOVONIX Limited and Lithium Energy Limited are combining their natural graphite exploration interests into Axon Graphite Limited, which will be taken public through an IPO on the ASX. Both companies will retain up to 28.57% ownership in Axon, aiming to create a large-scale natural flake graphite project and realize value for their shareholders.
April 03, 2024 | 6:49 am
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NOVONIX is contributing its natural graphite exploration interests to Axon Graphite Limited, with plans for an IPO on the ASX, retaining up to 28.57% ownership in Axon.
The formation of Axon Graphite and its subsequent IPO represent a strategic move for NOVONIX to capitalize on its natural graphite interests. This venture is likely to be viewed positively by investors, as it not only aims to create a significant player in the natural flake graphite market but also promises to unlock value for NOVONIX's shareholders. The retention of a substantial ownership stake in Axon suggests a long-term commitment to and confidence in the project's success.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90