HK Stock Market Move | Tianqi Lithium Corporation (09696) falls by over 4% again, planning to raise over 5.8 billion Hong Kong dollars for lithium mine acquisitions. The SQM ownership dispute is expected to be resolved soon.

Tianqi Lithium Corporation (09696) fell by more than 4% again. As of the time of publication, it dropped by 3.08% to 41.58 Hong Kong dollars, with a trading volume of 486.016 million Hong Kong dollars. On the news front, Tianqi Lithium Corporation announced that it plans to issue an additional 65.05 million H shares at a price of 45.05 Hong Kong dollars per share, and issue convertible bonds with a total principal amount of 2.6 billion yuan, expecting to raise a net amount of approximately 5.829 billion Hong Kong dollars. The proceeds from this fundraising will be used to support the company and its subsidiaries in the strategic development of the lithium sector, including but not limited to capital expenditures for project development and optimization, as well as mergers and acquisitions of high-quality lithium mining assets. It is worth noting that Tianqi Lithium Corporation plans to dispose of part of its equity stake in its affiliated companies CALB and SQM at the appropriate time to enhance asset liquidity. It is reported that the recent settlement of the dispute over lithium salt lakes in Chile. After the completion of the joint venture between SQM and its public and private partners, Tianqi Lithium Corporation will face the risk of losing control of its core lithium business. The investment return and dividends of Tianqi Lithium Corporation will be significantly affected, and the reserves and capacity of lithium resources rights at the mine end will also decrease.