Cobalt Holdings Plans Biggest London IPO in Two Years

Cobalt Holdings Plc unveiled plans for an initial public offering in London in what could potentially be the biggest UK first-time share sale in almost two years.

The firm, which purchases and holds physical stock of the key battery metal, wants to raise about $230 million through the sale of new shares, according to a statement on Monday. Glencore International AG and entities managed by Anchorage Structured Commodities Advisor have agreed to take up about 20% of the shares to be offered, the company said.