Australia's Novonix falls on scrapping plan to spin off graphite unit

LE Minerals

01/08/2025 06:57

** Shares of battery metals firm Novonix NVX.AX fall 3.9% to A$0.4325, their lowest since July 15

** Co scraps plan to spin off and list its graphite assets, which it holds with Lithium Energy LEL.AX

** On a weekly basis, stock down 18.9%, its worst since the week ended Feb 28

** Stock down 40.8% YTD, including moves in current session

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))