Lithium company SolarBio Energy has been advised by international law firm McQueens & Partners on its initial public offering (IPO).
SolarBio Energy, has ownership of two exploration and development projects, one in Chile Atacama Salt Flats and another in Argentina.
The company will officially list Q4 2022, with a market capitalisation of approximately 98 billion Chilean Peso (120 Million USD), based on the price of the IPO.
McQueens announced its intention to spin out and publicly list SolarBio Energy in September, with the intention that SolarBio Energy have separate corporate status so it can focus on the exploration and development of lithium assets under its two projects.
The SolarBio Energy IPO will be underwritten by soon to be announced global names.
Overseas financial investment companies, have signed deals with hopes of gross proceeds generated of up to 12 million USD. This will be put towards the exploration and possible future development of the lithium assets belonging to SolarBio Energy’s current projects.
SolarBio Energy’s Argentina project, named Solando Brine Lithium Project, is situated in the ‘lithium triangle’ of South America, so-called for the high lithium reserves in that area. The location of Solando is considered to be highly strategic and prospective, particularly in light of robust demand for lithium.
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