Kali continues to rock on ASX

Newly listed Kali Metals (ASX:KM1) has continued to climb amid a Kali dream start on the Australian Securities Exchange (ASX) since listing on Monday 8 January 2024.

As this news service previously reported, Kali Metals’ share price soared more than 75% after just 20 minutes into its debut.

The $62.70 million market capitalisation company listed at an offer price of $0.25 but has since more than doubled in value to $0.535. Today (9 January) as its share price climbed a further 22.98% as of 3.45pm AEDT. 

The Kalamazoo Resources (ASX:KZR) spin out issued 60 million shares to raise up to $15 million.

Grant Samuel acted as financial advisor, while Canaccord Genuity and Bell Porter acted as joint lead managers to Kali’s IPO. 

Kali Metals’ listing comes at a time when the IPO market had somewhat stagnated down during 2023.

However, mining and resources companies could inject some life into this year’s IPO market. As reported by Mining.com.au, just one upcoming float is not in the mining or natural resources sector, namely financial services firm The Australian Wealth Advisors Group (AWAG). 

Images: Kali