Ganfeng Lithium Hong Kong shares climb on expecting gain from trimming PLS stake

Ganfeng Lithium Co.,

Wed 08:23

** Hong Kong shares of Ganfeng Lithium Group 1772.HK climb 4.8% to HK$63.45, highest since June 1
** Stock on track for the biggest one-day pct gain since June 11
** Shenzhen-listed stock 002460.SZ gains as much as 2.8%
** China-based lithium and lithium battery products producer said its unit sold 35.09 mln PLS Group PLS.AX shares for A$ 222 mln ($156.67 mln), reducing the unit's stake in PLS to 3.27% from 4.36%   
** Co estimates to record 980 mln yuan ($145.05 mln) gain from the disposal 
** YTD, Hong Kong stock up 16.8%, Shenzhen-listed shares up 13.4%, while benchmark Hang Seng Index .HSI down 5.1%
     
     
     
     
($1 = 1.4170 Australian dollars)
     
($1 = 6.7562 Chinese yuan renminbi)

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))