LOPAL TECH (02465.HK): Sells 76% of Indonesia unit for USD 31.92 mln
On 22 October 2026, LOPAL TECH (02465.HK) said its unit will sell 76% of PT LBM Energi Baru for USD 31.92 million to make it a non-prohibited foreign entity.
Key Highlights:
- Kinetiq will hold 76%, LBM (AP) 23.99% and LBM (Singapore) 0.01%, and PT LBM will be deconsolidated.
- The Indonesian plant, still under construction, is designed for 90,000 tonnes of lithium iron phosphate cathode material a year.
NewTimeSpace News: On 22 October 2026, Jiangsu Lopal Tech. Group Co., Ltd. (stock code: 02465) published an overseas regulatory announcement on a Shanghai Stock Exchange filing. Its second-tier subsidiary LBM New Energy (AP) Pte. Ltd. signed agreements with Kinetiq Capital (SG) Pte. Ltd. to sell 76% of PT LBM Energi Baru for USD 31.92 million.
Kinetiq will hold 76%, LBM (AP) 23.99% and LBM (Singapore) 0.01%; PT LBM will no longer be consolidated. The deal aims to make PT LBM a non-prohibited foreign entity under the One Big Beautiful Bill Act for its Indonesian plant, designed for 90,000 tonnes of lithium iron phosphate cathode material a year.
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