Cobalt firm taps in to electric car boom with £174m London stock market float

Cobalt Holdings aims to buy up supply of the metal from Glencore as slowing EV growth has pushed down pricesA cobalt trading company has said it will raise £174m in rare a stock market float in London, in a bet on demand for car batteries that defies investor nerves around the growth in electric cars.Cobalt Holdings said it will raise $230m (£174m) in order to buy up a supply of the metal, a crucial element in electric car batteries, from the FTSE 100 mining company Glencore. The miner will invest $24m, taking a stake of about 10%, according to a statement to the London Stock Exchange on Monday. Continue reading...

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