Tianqi Lithium to Raise Almost US$750 Million Via Share Placement, Bond Issuance
By Sherry Qin
Tianqi Lithium plans to raise almost US$750 million with a H share placement and by issuing convertible bonds.
The Chinese lithium producer aims to place 65.05 million H shares at 45.05 Hong Kong dollars each, equivalent to US$5.77, it said in an exchange filing on Wednesday morning. That would be a 9% discount to its closing price of HK$49.50 on Tuesday.
It also wants to issue 2.6 billion yuan, equivalent to US$374.7 million, of zero-coupon, U.S. dollar-settled convertible bonds due 2027 with a conversion price of HK$49.56 per share.
The total net proceeds would be HK$5.83 billion, which plans to use to support the strategic development of the company and its subsidiaries in the lithium sector. It will also spend the proceeds on acquiring high-quality lithium mine assets and replenishing working capital.
Lithium chemicals are essential for making lithium-ion batteries for electronics and electric vehicles.
Trade in Tianqi's Hong Kong-listed shares was halted on Wednesday. Its Shenzhen-listed shares were down 2.1% at 52.35 yuan.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
February 03, 2026 23:03 ET (04:03 GMT)
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