Tirupati's shares start trading on the LSE; graphite company obtains LSE Green Economy Mark
miningweekly.com
14th December 2020
By: Creamer Media Reporter
The ordinary shares of integrated graphite and graphene producer Tirupati Graphite started trading on the LSE on December 14.
“With this milestone reached, we have a very exciting opportunity to continue to expand our primary mining and processing operations in Madagascar and downstream value-add operations in India and become a global leader in the graphite market, as well as offering additional upside through our graphene development," comments CEO Shishir Poddar.
The company had raised £6-million in a placing, subscription and intermediaries offer of 13.33-million shares at a price of 45p, implying a market capitalisation of about £33.64-million on admission to the LSE.
“The successful £6-million fundraising, which saw key institutions and retail investors join our share register, highlights the qualities of our business being revenue generative with high-quality resource assets, proven low-cost operations, robust economics, supportive jurisdictions, access to end markets, and a team with a record of delivery in the graphite space.
"Additionally, our green credentials should not be ignored: we use cleaner processing technologies than any other business in the space and our products support numerous green applications focused on delivering sustainability targets worldwide. It is in recognition of this that we have been awarded the prestigious LSE Green Economy Mark, which we are incredibly proud of," adds Poddar.
He further points out that flake graphite has been classified as a critical raw material by the US and the European Union, while "graphene is equally extraordinary; its amazing strength, conductivity and flexibility . . . is set to revolutionise the world of advanced materials with vast amounts of technological developments happening across a range of sectors and applications including fast-charging and foldable phones, consumer wearables, supercapacitors, energy storage, aerospace, automotive, defence, medical, high-end sensors, desalination and filtration; the list is virtually unlimited.
"We believe a number of these are on the cusp of mass commercialisation over the next few years and we plan to be at the forefront of some of these potentially world changing, technological advancements," he notes. |
