DEALS
Zhong Lun Assists Tianqi Lithium to Complete H-share IPO
Zhong Lun Assists Tianqi Lithium to Complete H-share IPO
On July 13, 2022, Tianqi Lithium Corporation (A-share: 002466.SZ, "Tianqi Lithium") completed its initial public offering and placement of 164,122,200 H shares (subject to the over-allotment option) and got listed on the Main Board of the Stock Exchange of Hong Kong Limited under the stock code 9696.HK.
Zhong Lun Law Firm acted as the PRC legal counsel to the issuer in this listing and offering project and provided legal services for the whole process. This project was led by partners Bin Fan, Yunfan He, Zexiong Wen and Conghui Meng, and the key members included associates Xinyue Li, Zhipeng Liu, Zhiguang Liu, etc. Partner Shirley Lu provided support for this project.
The H-share IPO of Tianqi Lithium, offered at the price of HK$82 per share, raised gross proceeds of about HK$13.5 billion, making it the largest Hong Kong IPO so far this year and the largest-ever Hong Kong IPO of Sichuan enterprises.
A leading lithium producer in China and globally, Tianqi Lithium has access to the world's high-quality lithium resources, owns the mining rights of the world's largest lithium mine, the Greenbush Mine, and is the second largest shareholder of SQM, the world’s largest producer of lithium compounds from brine. According to the Wood Mackenzie Report, in 2021, Tianqi Lithium ranked third globally in terms of revenue generated from lithium and the company was the fourth largest lithium compound producer in the world and second largest in Asia as measured by production output and was also the second largest supplier of battery-grade lithium carbonate in the world and one of the world's top ten suppliers in battery-grade lithium hydroxide.
