Cobalt investment company, Cobalt Holdings has announced plans to list on the LSE. Cobalt Holdings is looking to capitalise on the rising demand for the metal, which is a key component of electric vehicles and the broader renewables transition. The company is aiming to raise £180mn in a May listing and is backed by commodity trader Glencore, which is expected to take a 10% stake in the company and has also agreed to sell it about $200m-worth of its cobalt under a long-term agreement.
The announcement is a positive after listings crashed to their lowest level since 2009 in 2024.
Glencore backed Cobalt Holdings to list on LSE
