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Jiangsu Lopal Sets Nov. 23 Shareholder Vote on USD 31.92 Million Sale of 76% Stake in PT LBM Energi Baru

By Public Technologies
  • Jiangsu Lopal Tech's subsidiary LBM AP agreed to sell 76% of Indonesia's PT LBM Energi Baru to Kinetiq for US$ 31.92 million.
  • A shareholder meeting on November 23, 2026, will consider the transaction agreements signed October 22, 2026.
  • The group will retain 24% but lose control of the business, which operates a 90,000-ton lithium iron phosphate cathode materials facility.
  • The sale aims to preserve access to North American customers, prevent idle production capacity and recover part of the group's investment.
  • Kinetiq's conditional put option requires LBM AP to repurchase its stake for 76% of net asset value, with a US$ 36 million floor.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Jiangsu Lopal Tech. Co. Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20261103-12398396), on November 03, 2026, and is solely responsible for the information contained therein.

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