Talison Lithium Ltd, one of the world's leading lithium producers, plans an initial public offering (IPO) on both the Australian Stock Exchange and the Toronto Stock Exchange, the company said late on Monday.
The Australian company plans to offer 35 million shares for between C$4 and C$5 a share. It expects gross proceeds of between C$140 million ($132 million) and C$175 million from the offering.
Talison said the Canadian offering and the Australian offering will be completed simultaneously.
The company said its Greenbushes Lithium operations in Western Australia accounted for roughly one-quarter of the world's lithium production in 2008.
The company was recently formed following the split of Talison Minerals into two separate companies focused on lithium and tantalum operations, respectively.
Demand for lithium, the lightest known metal, has risen rapidly due to the increasing use of lithium-based batteries in electronics and hybrid cars. The mineral is also used in making glass, ceramics, aluminum and other products.
The Canadian offering will be made through a syndicate of underwriters led by Cormark Securities, the company said. Macquarie Capital is managing the Australian offering.
(Reporting by Euan Rocha; editing by Peter Galloway)