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IPO

China nickel producer makes Hong Kong IPO debut amid EV growth

Lygend Resources is raising money to build Indonesia production sites

Interest in nickel, a core component of batteries for electric cars, is growing rapidly as demand for EVs rises.   © Getty Images

HONG KONG -- A Chinese nickel producer backed by the world's top electric vehicle battery supplier has listed in Hong Kong hoping to capitalize on growing investor interest in the metal.

Lygend Resources & Technology Co. started trading on Thursday at the price of 15.80 Hong Kong dollars, the lower end of its offering range. Its shares climbed 0.5%, underperforming the Hang Seng Index which rose over 3%  at one point during the morning trading session.

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