Ganfeng Lithium (1772.HK) is now down 2.69% at HK $170.2, falling below 4% to 167.4 yuan per share at one point in intraday trading, while Ganfeng Lithium (002460.SZ) is now down 2.62% at 185.01 yuan, down as much as 5%.
On the news side, Ganfeng Lithium received a letter of concern yesterday that the company had previously disclosed the announcement on the capital increase of Ganfeng Lithium, the holding subsidiary of Ganfeng Lithium, and the announcement on Ganfeng Lithium's acquisition of 100% equity interest in innovative energy and related transactions in Huihui. The announcement disclosed that it planned to make an offer to acquire Millennial of Canada with no more than C $353 million. The attention letter requires to explain the pricing basis for the capital increase of Ganfeng Lithium Power Company; to explain in detail the purpose, pricing policy and basis of purchasing foreign exchange innovative energy; to explain the reason and rationality of the valuation compared to the book value increase of 284.01%; to explain the pricing policy and basis for the acquisition of Millennial.
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