Galaxy puts IPO on hold
LITHIUM miner Galaxy Resources Ltd has postponed its listing on the Hong Kong stock exchange due to unfavourable financial market conditions. The Australian stock exchange-listed company had planned the dual listing for the end of the current quarter. Shares in Galaxy were down 16.5 cents, or 13.2 per cent, at $ 1.085 yesterday. Galaxy said in a statement that it had deferred a proposed initial public offer ( IPO) in Hong Kong until further notice. Managing director Iggy Tan said the decision was prudent given serious international events and related market volatility.