Arcadium Lithium CDI Def (ASX: LTM) shares are up 5.35% since they began trading on Friday.
And the lithium major is currently the top riser of the day on the ASX 200.
The newly-formed company — a result of the merger between Allkem and US lithium giant Livent Corp — hit the ASX boards on Friday after the shareholders of both companies formally approved the merger.
Almost 90% of the votes cast at the Allkem scheme meeting were in favour of the merger.
Allkem shareholders received one Arcadium Lithium share per Allkem share. Livent shareholders received 2.406 Arcadium Lithium shares per Livent share.
The Arcadium share price is currently $10.64.
Interestingly, another ASX lithium share is the biggest faller of the ASX 200 today.
The Core Lithium Ltd (ASX: CXO) share price is currently down 5% to 25 cents.
Core Lithium has problems right now.
Last week the miner announced it has undertaken a strategic review to lower costs and increase productivity in light of falling lithium prices.
The company noted an 80% decline in the price of spodumene concentrate this year.
In a statement, Core Lithium said it was considering reducing overall mining operations and exploration.
It has also suspended early works at the new BP33 underground mine at its flagship Finniss project.
