Ganfeng Lithium (HKG:1772, SHE:002460) will raise the capital of subsidiary Ganfeng International by $600 million to obtain more high-quality overseas lithium resources and construct an overseas upstream resource base, the company said in its filing on the Shenzhen Stock Exchange.
Ganfeng International's capital will increase to $3.24 billion from $2.64 billion, according to the Saturday filing.
Shares of the company slid more than 2% on both Hong Kong and Shenzhen bourses.
Price (HKD): $20.65, Change: $-0.45, Percent Change: -2.13%
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