Weak capital raising in February
February again saw depressed capital raising activity across the battery raw materials complex, except in nickel where the Mardeka BM raising injected US$1.4bn. If that is backed out, it was an exceptionally weak month with only c.US$100m committed to the sector. However, this sort of weakness is not atypical in the first few months of the year, particularly bearing in mind concerns about geopolitics and low prevailing prices, currently. It will be interesting to see where capital raisings go this year, given that we expect equity markets to remain volatile, meaning that equity will likely remain a relatively small percentage...
Topics
Capital raising
IRA
Lithium
Nickel
Outlook
