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AUSTRALIA'S TALISON LITHIUM TO RAISE US$184.9 MLN FROM IPO

Posted on: Mon, 23 Nov 2009 21:22:00 EST

Symbols: 3452623Z

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MELBOURNE, Nov 24, 2009 (AsiaPulse via COMTEX) --
3452623Z | Quote | Chart | News | PowerRating -- Australian lithium producer
Talison Lithium Ltd hopes to raise nearly A$200 million
(US$184.86 million) when it lists on the Australian and Toronto
stock exchanges next month.

An initial public offering (IPO) from Talison will create
gross proceeds expected to be in the range of A$143.5 million
to A$196.4 million, the company said.

"Approximately A$143.5 million to A$178.5 million of the
gross proceeds of the offer will be used by the company to
repay all existing senior debt, pay for the costs of the Offer
and for corporate and working capital purposes," Talison said
on Tuesday.

"On completion of the offer Talison Lithium is expected to
be in a robust financial position with a producing lithium
mine, minimal debt and a strong cash balance to fund growth
opportunities," it said.

After the offer, existing shareholders of the company will
hold 54.7 to 58.8 per cent of the company.

The largest shareholder in the company, Resource Capital
Fund IV LP, will own 29.3 per cent to 33.4 per cent of the
stock.

It is expected shares in the company will begin trading on
the Australian share market on December 18, with an indicative
price range of A$4.10 and A$5.10 per share.

(AAP) bl

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