Tianqi Lithium Corporation (Stock Code: 9696) has reported the completion of two significant financing activities. According to the announcement, the company placed a total of 65,050,000 new H shares under a general mandate, followed by the concurrent issue of USD-settled zero coupon convertible bonds due 2027.

The newly placed H shares were priced at HK$45.05 each, generating gross proceeds of approximately HK$2,930.5 million and net proceeds of around HK$2,924 million. In parallel, the company issued convertible bonds with an aggregate principal amount of RMB2,600 million. These bonds have an initial conversion price of HK$51.85 per share, with listing approval secured on the Hong Kong Stock Exchange and the Vienna MTF. The net proceeds from the bonds amount to about HK$2,906.6 million.

Based on the announcement, the share capital of Tianqi Lithium now comprises 1,706,244,983 issued shares immediately after the completion of the placement. Full conversion of the bonds at the initial price could lead to the issue of approximately 56,481,896 additional H shares. The company intends to allocate the proceeds toward strategic development in the lithium sector, including capital expenditures and potential acquisitions, alongside the replenishment of working capital.