2022.07.14
On July 13, 2022, Tianqi Lithium Corporation (“Tianqi Lithium”) issued 164,122,200 shares (depending on whether over-allotment options will be exercised) on a global scale and was successfully listed on the Stock Exchange of Hong Kong (HKEx) (the “Project”). The shares were offered at a price of HKD 82 per share, raising a total of almost USD 2 billion. To date in 2022, this was the largest IPO on the HKEx and one of the largest IPOs in the world this year.
The Project was:
the largest IPO in the global lithium sector;
the largest IPO on HKEx to date in 2022 in terms of the amount of funds raised; and
one of the largest IPOs in the world to date in 2022.
Tianqi Lithium is listed on the Shenzhen Stock Exchange (SZ.002466) and is one of the largest lithium companies, both in China and the world. It is a new energy materials supplier with lithium as its core business covering key stages of the lithium industry chain. This includes the development of hard rock lithium ore resources, the processing and sale of lithium concentrates, and the production and sale of lithium chemical products. Tianqi Lithium develops lithium resources in China, Australia and Chile through its strategic presence in those countries. It leverages its vertically integrated global industry chain to establish partnerships with international customers and help promote the long-term sustainable development of lithium-ion battery technology in the electric vehicle and energy storage industries.
JunHe acted as the Chinese legal counsel to the joint sponsor and underwriter in the Project. JunHe’s team provided expert legal services to the client despite the adverse influence caused by the market, the epidemic and other negative unforeseen factors. We assisted the underwriter in conducting legal due diligence and third-party due diligence, reviewed and revised the prospectus and the relevant application and offering documents for the IPO, issued Chinese legal opinions and responded to feedback and questions from the regulators.
The Project was led by Mr. YU, Yongqiang (YY). It was undertaken primarily by Ms. SHI, Yun and internally reviewed by Mr. YI, Yisong.
