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China Lithium Producer Tianqi Plans $1bn Hong Kong IPO – WSJ

Tianqi’s listing on the Hong Kong Stock Exchange could become the bourse’s biggest initial public offering this year


New initial public offerings (IPOs) have slowed in Asia following the market turmoil in the wake of Russia's invasion of Ukraine, monetary tightening to curb spiralling inflation, plus fresh Covid outbreaks, Nikkei said.
Hong Kong, the world's top IPO market as recently as 2019, is not even in the top 10 this year, the report said. Photo: Reuters.

 

Tianqi Lithium Corp, a company based in Chengdu in mainland China, is looking to raise about $1 billion from a listing on the Hong Kong Stock Exchange in what could be the biggest initial public offering this year, the Wall Street Journal reported.

The plans for an IPO by Tianqi, one of China’s top lithium producers, comes when Russia’s invasion of Ukraine, spiralling inflation, plus Covid outbreaks and lockdowns in China have roiled global markets and crimped demand for new stock issuances, the report added.

Read the full report: The Wall Street Journal.

 

 

 

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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