Tianqi Lithium seeks IPO in Hong Kong

According to information from the Hong Kong Stock Exchange, China-based Tianqi Lithium has applied for an IPO in Hong Kong.

Already listed on the Shenzhen Stock Exchange in China, the company will be listed in Hong Kong later this year in collaboration with sponsors Morgan Stanley, China International Capital Corporation (CICC) and CMB International Capital Corporation (CMBI). ..

Tianqi’s IPO is expected to be the largest in Hong Kong in 2022.

The company previously suspended its IPO application in Hong Kong in 2019 amid slumping lithium prices. Following the acquisition of Chile-based chemical company SQM, China’s leading lithium materials supplier has received IPO funding to liquidate SQM’s US $ 1.13 billion debt, invest in building a new plant in Anjou, Sichuan, and operate. Said it will be used for optimization. ..

According to a report by energy consultancy Wood Mackenzie, Tianqi was the world’s fourth largest producer of lithium compound materials in 2021 with a 7% market share. It is also the world’s second largest supplier of lithium carbonate for EV batteries.

Tianqi’s total annual lithium production capacity has reached 1.62 million metric tonnes this year and is expected to reach 2.1 million metric tonnes by 2025, with multiple expansion projects planned to begin in the coming years.

Regarding the production of middle-class products such as lithium salts, the annual production volume so far is 110,000 tons, which is the sum of the production volumes in China and Australia.

Due to the rapid increase in demand for lithium materials for EV batteries in recent years, Tianqi is also expanding the production of new materials for EV batteries in collaboration with China Aviation Lithium Battery (Calb Tech). Tianqi Lithium seeks IPO in Hong Kong

Back to top button