Li-S Energy (ASX:LIS) share price falls 15% over its first week on the ASX

Li-S Energy floated on the ASX one week ago today. Here’s how it’s been performing since.

| More on:
a baby scratches his head looking slightly bemused.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Li-S Energy Ltd (ASX: LIS) share price has slumped over the course of its first week on the ASX. Though, it’s still well above the offer price on its prospectus.

This time last week, the market was abuzz waiting for Li-S Energy’s much-anticipated Initial Public Offering (IPO). And Li-S Energy didn’t disappoint.

Li-S Energy debuted on the ASX at 11am last Tuesday. Its stock quickly took off to finish its first day’s trade at $2.33 – a whopping 174% higher than its IPO offer price of 85 cents.

Since then, the company’s stock has slipped 15.02%.

At the time of writing, the Li-S Energy share price is $1.98, 1.49% lower than its previous close and 132% higher than its prospectus’ offer price.

Li-S Energy is working towards developing lithium-sulphur batteries using boron nitride nanotubes and other nanomaterials. According to the company, its lithium-sulphur batteries have greater capacity, stability, performance, and cycle life than traditional lithium-sulphur batteries.

Let’s take a closer look at Li-S Energy’s first week on the ASX.

Li-S Energy share price dips over first 7 days’ trade

The Li-S Energy share price has been slipping over the course of its first week on the ASX despite no price sensitive news being released by the company yet.

In fact, aside from the day of its IPO, Li-S Energy’s stock has only recorded 2 days in the green.

It gained 3.4% on its second day as a listed entity and shot 8.6% higher yesterday for no obvious reason.

Unfortunately, the good sessions haven’t managed to outweigh the bad and Li-S Energy’s stock has been left in the red.

Interestingly, Li-S Energy’s largest shareholder, PPK Group Limited (ASX: PPK), is following a similar trajectory. Since Li-S Energy’s float, the PPK share price has fallen 21%.

Li-S Energy is a spinout of PPK Group, alongside Deakin University and PPK’s BNNT Technology Limited.

PPK currently holds 50.1% of Li-S Energy’s voting power while Deakin has another 13%.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Energy Shares

A young boy flexes his big strong muscles at the beach.
Energy Shares

Why did the Beach Energy share price outperform the ASX 200 last month?

The Beach Energy share price hit a 52-week high and a three-month low last month.

Read more »

An image showing a red graph with a white arrow pointing downwards above three black barrels of oil to represent falling oil prices and ASX 200 energy shares
Energy Shares

Santos and Woodside on watch after oil prices crash 10%

Oil prices have taken a major tumble...

Read more »

Happy man standing in front of an oil rig.
Energy Shares

Why is the Woodside Energy share price leading the ASX 200 higher on Tuesday?

It's a good day to be invested in this ASX 200 energy giant.

Read more »

Coal miners look resigned to the end of mining this resource
Energy Shares

Whitehaven share price takes off despite climate legal challenge

A planned extension at the company's Narrabri underground mine is facing a new challenge.

Read more »

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Energy Shares

‘Well progressed’ share buyback puts Whitehaven Coal shares on the front foot

Whitehaven Coal shareholders seem pleased with the company's latest announcement.

Read more »

Female oil rig worker wearing high vis vest, red gloves and hardhat smiles at camera with a green painted oil rig in the background
Energy Shares

Here’s how the Woodside Energy share price performed over FY2022

How did the ASX oil and gas company's shares go last financial year?

Read more »

Pilbara Minerals share price ASX lithium shares A stylised clean energy battery flexes its muscles, indicating a strong lift in share price for ASX energy companies
Energy Shares

Broker names 2 of the best ASX energy share to buy in FY23

These energy shares could be buys for FY 2023...

Read more »

Man in mining or construction uniform sits on the floor with worried look on face
Energy Shares

Why did the Santos share price plunge 10% in June?

Here's what may have weighed on the ASX 200 energy giant last month.

Read more »