China nickel producer Lygend Resources to go public in Hong Kong

The company had invested heavily to expand business and explore more materials in the nickel sector as the resource is gaining traction amid a global new energy boom

Chinese nickel producer and trader Lygend Resources & Technology Co Ltd has applied to make an initial public share offering on the Hong Kong Exchange.

The application did not reveal how much money Lygend plans to raise from the Hong Kong IPO. Its Jan-Sept profit last year stood at 415 million yuan ($65.5 million).

The filing late on Tuesday came after the Ningbo-based company submitted a request to China's securities regulator in late January.
 

Lygend Resources, which says it is China's biggest nickel ore trader with around 27% market share in 2020, trades laterite nickel ore sourced from miners in the Philippines