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Company Overview
Lykos Metals Limited is an Australian company incorporated on May 06, 2021, with the sole purpose of acquiring the entire issued shares capital of Lykos Balkan Metals under the acquisition agreement. Lykos Balkan Metals is battery metals exploration and development company. Its projects include exploration and extraction of nickel, copper, cobalt, precious metals, and lithium and REE.
Initial Public Offering
The company had launched its IPO on the ASX under the ticker LYK and has sold approximately 60 million shares at AU$0.20 each. Even though the prospectus mentioned the expected date for quotation on ASX as 9th November 2021, Lykos Metals got listed on 21st October 2021. We had covered this IPO in our ‘Kalkine IPO Report’ on October 06, 2021 and had concluded that this IPO looked “Attractive” given its presence in the EV battery space, debt free balance sheet and aggressive growth outlook.
5-Minute Price Chart (as on October 29, 2021). Analysis by Kalkine Group
Conclusion
Investors who have invested into this IPO can consider ‘Exiting’ from their position at the closing price of AU$0.345 as on October 29, 2021, given:
*The reference data in this report has been partly sourced from Refinitiv.
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