News Snapshot:
Chinese mining firm Tianqi Lithium has raised HK$13.5bn ($1.7bn) upon listing its shares on the Hong Kong Stock Exchange, reported Bloomberg News citing parties familiar with the development. The Chengdu-based firm sold 164.1 million shares at HK$82 each. Cornerstone buyers comprise South Korea’s LG Chem and the state-owned China Aviation Lithium Battery. Financial Times reported Tianqi Lithium chair Jiang Weiping as saying at a press convention final week: “Supply exceeded demand for most of the past two decades in the lithium industry, but that dynamic flipped in 2021 with gaining popularity over electric vehicles. “We think it will be a...
