Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Glencore-backed Cobalt Holdings scraps planned London listing
Economy

Glencore-backed Cobalt Holdings scraps planned London listing

Last updated: June 4, 2025 12:22 pm
Share
Glencore-backed Cobalt Holdings scraps planned London listing
SHARE

Cobalt Holdings, a metal investment company, has made the decision to cancel its planned listing on the London Stock Exchange. This move comes just weeks after the company announced a proposed $230 million share offering, with backing from prominent investors such as Glencore.

The decision to scrap the IPO was not accompanied by specific reasons from Cobalt Holdings. However, a source close to the company indicated that the decision was made in the best interest of funding the business privately. Cobalt Holdings, led by CEO Jake Greenberg, had previously outlined plans to list this month, with Glencore and Anchorage as cornerstone investors, collectively holding a 20.5% stake in the company.

The cancellation of the listing deal is a setback for the London IPO market, which has faced challenges in competing with other markets in recent years. Cobalt Holdings had intended to raise $230 million through a flotation model similar to that of Yellow Cake, a London-listed investment company that focuses on purchasing and holding uranium for nuclear reactor fuel.

Greenberg’s pitch to potential investors centered around the increasing demand for cobalt in electric car batteries, driven by the global shift towards clean energy. The company had secured a six-year supply contract with Glencore, valued at up to $1 billion, with an initial purchase of 6,000 tonnes of cobalt at a discounted rate.

Despite the cancelled IPO, the supply agreement with Glencore is expected to proceed if Cobalt Holdings is able to secure the necessary funds through other means. The prices of cobalt have experienced a significant decline over the past year, leading the government of the Democratic Republic of Congo to temporarily ban its export in an effort to boost prices.

See also  Trump orders strikes on Iran-backed Houthi rebels in Yemen

As the clean energy transition continues to gain momentum, the demand for cobalt is expected to rise, making it a valuable commodity for the future. The decision to cancel the IPO reflects Cobalt Holdings’ strategic shift towards private funding to support its business operations.

In conclusion, the cancellation of the London listing marks a turning point for Cobalt Holdings as it navigates the challenges of the evolving market landscape. The company remains optimistic about its future prospects and is focused on securing alternative sources of funding to drive its growth and success in the competitive metal investment sector.

TAGGED:CobaltGlencorebackedHoldingsListingLondonPlannedScraps
Share This Article
Twitter Email Copy Link Print
Previous Article Mario Moore’s Oil Paintings Bridge Past and Present to Spotlight Black Resilience and Style — Colossal Mario Moore’s Oil Paintings Bridge Past and Present to Spotlight Black Resilience and Style — Colossal
Next Article Travis Kelce Jokes About Opening Taylor Swift’s Shows as Her ‘Hype Man’ Travis Kelce Jokes About Opening Taylor Swift’s Shows as Her ‘Hype Man’
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Israel says it agrees to ceasefire with Iran

Israel and Iran Agree to US-Brokered Ceasefire After almost two weeks of conflict between Israel…

June 24, 2025

STAT+: AMA wades into turbulent debate over AI regulation with new digital health center

In a recent Q&A, CEO John Whyte describes the Trump administration's examination of industry initiatives…

October 21, 2025

Travis Kelce Shows Off Vocals On Jason’s New Christmas Track

Travis Kelce Shows Off His Singing Skills on Jason Kelce's Christmas Album Taylor Swift isn't…

October 29, 2024

Defence Force deploying plane to Middle East

By Giles Dexter of RNZ The New Zealand Defence Force has taken action by deploying…

June 21, 2025

NASA Astronaut Sunita Williams Says This Is The “Hardest Part” Of Being Stranded In Space

Washington, DC: Astronaut Sunita Williams, who recently returned from a nine-month mission at the International…

March 9, 2025

You Might Also Like

Fresnillo signs agreement to acquire Probe Gold for 8m
Economy

Fresnillo signs agreement to acquire Probe Gold for $558m

October 31, 2025
Market analysts react to Trump-Xi meet
Economy

Market analysts react to Trump-Xi meet

October 31, 2025
29 truck carrier files Chapter 11
Economy

29 truck carrier files Chapter 11

October 31, 2025
Trust Government Statistics, Not Government
Economy

Trust Government Statistics, Not Government

October 31, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?