Tianqi Lithium aims to raise up to $2 billion in Hong Kong listing-source According to Reuters

© Reuters. FILE PHOTO: An aerial view shows the brine pools and processing areas of the Soquimich lithium mine (SQM) on the Atacama salt flats in the Atacama desert of northern Chile, January 10, 2013.REUTERS/Ivan Alvarado / File Photo

By Scott Murdoch and Julie Zhu

HONG KONG (Reuters) – China’s Tianqi Lithium will sell its shares at between 69 and 82 Hong Kong dollars ($8.79 – 10.45) per share listed in Hong Kong. could raise $2 billion, two sources with direct knowledge of the matter said.

Tianqi, one of the world’s leading manufacturers of lithium chemicals for electric vehicle batteries, plans to sell about 164.12 million shares in the city’s biggest share sale in 2022, one of the sources said. news said.

Sources said that if exercised a 15% greenshoe option or over-allocated, the Shenzhen-listed company could raise between $1.66 and $1.97 billion.

The first source said Tianqi is scheduled to launch the book from Thursday to July 6 and launch in Hong Kong on July 13.

The sources cannot be named because the information has not been made public.

Tianqi did not immediately respond to a request for comment

Tianqi’s transfer will help revive Hong Kong’s banking market with the city’s trading volume flattened by volatile global financial markets.

According to Refinitiv data, there is only $2.2 billion from initial public offerings and secondary listings in Hong Kong this year, down from $30.27 billion at the same time in 2021. , according to Refinitiv data.

Tianqi, based in Chengdu, on Tuesday announced it had signed a contract to sell lithium to LG Chem Ltd.

(1 dollar = 7.8473 Hong Kong dollars)

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