Battery tech firm has stellar market debut

BRISBANE battery developer Li-S Energy has rocketed in its first day of trade, soaring more than 200 per cent and becoming the nation’s latest $1bnplus company in one of the most spectacular stock market debuts of the year.

Shares in the Deakin University-backed Li-S debuted above $2 on Tuesday morning before quickly climbing to as high as $3 each, before closing at $2.33. Shares in the company were sold at 85c each under its initial public offer.

CEO Lee Finniear said the strong debut showed investors saw the value of the battery company and its lithium-sulphur technology.

“We are absolutely delighted. It’s a fantastic show of support from the investors and from the Australian public. It’s brilliant,” he said.

At current levels Li-S is capitalised at $1.5bn, putting it in the nation’s top 300 companies. Li-S wants to become a leading player in the next generation of battery technology by making lithium-sulphur batteries commercially viable so they can be used as an alternative to mature lithium-ion battery technology.