Livent, FMC’s lithium spin-off, has detailed its initial public offering of stock, expected later this month. Under ticker symbol LTHM, the company will float up to 23 million shares on the New York Stock Exchange at a price of between $18.00 and $20.00. Livent has lithium-mining operations in Argentina and makes lithium-containing chemicals such as lithium hydroxide, butyllithium, and lithium metal. The company earned $84 million in operating income on $210 million in sales during the first six months of the year. About 35% of the company’s sales are in the booming lithium-ion battery market. Its other main sales channels are to the grease, polymer, and chemical synthesis markets. Livent says overall demand for specialty lithium compounds is growing at a rate of 20% per year. After the offering, FMC will have an 86% stake in Livent, which FMC may transfer to its shareholders in a tax-free distribution of shares. FMC is shifting its focus to agricultural chemicals.