Chinese battery-swapping station developer U Power (UCAR) raised $15 million by offering 2.4 million shares at $6, the low end of the range of $6 to $8. The company offered 0.1 million fewer shares than anticipated. The IPO float is just 4.6% of basic shares outstanding. With such a small float the stock traded wildly on debut, surging as high as $75, up 620% before closing at $43.18. It was the best debut among companies to list in the US … Continue reading “China’s EV Battery Swapping Start Up U Power Soars 620% for Biggest IPO Debut of 2023”
Forrest’s Nickel Battle with BHP Heats Up with Mincor Resources Bid
Australian mining magnate Andrew Forrest launched an AUD$760 million takeover bid for Mincor Resources, 35 per cent above Mincor’s closing price on Monday. The Mincor share price has fallen 49 per cent over the past 12 months. Forrest is using his privately owned Wyloo Metals, which already owns 19.99 per cent of Mincor. Mincor is a key supplier to BHP’s reborn Nickel West division. The lower impurity Mincor ore seen as an important part of the BHP nickel blend. Forrest … Continue reading “Forrest’s Nickel Battle with BHP Heats Up with Mincor Resources Bid”