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Tianqi Lithium completes $1.7bn IPO
China-based Tianqi Lithium has been advised on its US$1.7 billion IPO and listing on the Hong Kong Stock Exchange — the largest listing so far this year in Hong Kong.
Lauren Croft
Firm: Clayton Utz (Tianqi Lithium)
Value: US$1.7 billion
Area: Corporate
Key players: The Clayton Utz team was led by corporate partners Brett Cohen and Liz Humphry, which included special counsel Armin Fazely and lawyer Luke Crofts.
Deal significance: The share sale was oversubscribed, with cornerstone investors including South Korean diversified chemical company LG Chem and state-owned China Aviation Lithium Battery Co.
Tianqi’s Australian operations, located in Western Australia, comprise the Greenbushes lithium concentrate mining operations and the Kwinana Lithium Hydroxide Plant, Australia’s first fully automated lithium hydroxide processing plant. The Kwinana plant delivered its first batch of battery-grade lithium hydroxide in May this year, with electrified transport and energy storage systems fuelling a demand boom for the metal.
Congratulating Tianqi on its IPO milestone, the firm said: “This is a significant achievement for Tianqi, and we’re pleased to have been involved in helping them bring this second listing to market. The response reflects the strong global demand for lithium, which continues unabated.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
