On January 29, Ganfeng Lithium announced that its wholly-owned subsidiary, GFL International Co.,Ltd., had sold 32.19 million shares of PLS through a block trade in January, with total proceeds amounting to 160 million Australian dollars. Prior to the sale,GFL International held approximately 5.36% of PLS shares, which decreased to 4.36% after the transaction.
The transaction is expected to generate cumulative pre-tax gains of approximately Yuan 709 million, of which around Yuan 120 million will be recognized in the current year's profit and loss statement. The cumulative gains from this sale account for 34.21% of the company's most recently audited net profit attributable to shareholders of the listed company.
Edited by Cassie Li, lixiangying@mysteel.com
