Australia's Lithium Energy doubles in value on market debut

Strike Resources

19/05/2021 06:07

** Shares of Lithium Energy Ltd  LEL.AX  soar as much as
105% to A$0.410 on first day of listing
    ** The lithium explorer, which was spun out of Strike
Resources  SRK.AX , raised A$9 mln ($7.01 mln) in its initial
public offering (IPO) of 45 mln shares at A$0.2 per share 
 urn:newsml:reuters.com:*:nAZN016K8T
    ** Co listed with initial market cap of A$16 mln
    ** LEL was spun off to focus on the Solaroz Lithium Brine
Project in South America 


($1 = 1.2847 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))