Posted on 06 Jul 2022
Chengdu-founded Shenzhen-listed Tianqi Lithium started its Hong Kong initial public offering (IPO) on 30 June, and this will last until 6 July. It is going to be listed at HK Stock Exchange on 13 July.
Tianqi Lithium plans to sell over 164.12 million H shares, of which 90% are international offerings, 10% are public offerings, and 15% are over-allotment options. The offering price per share ranges from HKD 69-82 ($8.79-10.45), with 200 shares per lot, raising a maximum of HKD 13.458 billion. It is said that, as of the first day of offering, the proportion of international offerings has been fully subscribed.
Tianqi Lithium's vice chairman and executive director Jiang Anqi says: "Our company is optimistic about the development of the new energy market, and has confidence in our own business model and core competitiveness. In the past, it deployed high-quality resources at low cost. In the future, it will continue to prepare for lithium technology and product research and development. It is expected that Tianqi Lithium will become a better company after its listing in Hong Kong, a more international company with expanded global customer base."
Several industry competitors or partners also joined this round of financing, including Chinese leading lithium-ion battery company CALB, South Korean leading new energy company LG Chem, and mining giant Zijin Mining, Kallanish learns.
Source:Kallanish
