Jake Greenberg is set to launch Cobalt Holdings on the London market, targeting £180 million to initially purchase cobalt from Glencore as part of a six-year supply deal. This strategic move comes after the Democratic Republic of Congo suspended cobalt exports to support prices, which recently dropped to $10 per pound. Greenberg, known for his previous success with Yellow Cake, aims to purchase and hold physical cobalt to benefit from future price increases. The flotation marks a significant move in a muted IPO landscape and could be among the first for London this year.
Greenberg's upcoming flotation for Cobalt Holdings aims to raise £180 million to purchase cobalt from Glencore, following a significant suspension of cobalt exports in Congo.
The new venture seeks to replicate Greenberg's success with Yellow Cake by investing in physical cobalt and leveraging market price appreciation over time.
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