Caixin
Jul 29, 2022 08:53 PM
BUSINESS

Tianqi Lithium Pays Off Acquisition Loan After Hong Kong Listing

Tianqi’s Hong Kong stock dropped 0.7% Friday to HK$80 per share, about 2.4% lower than its debut price. Photo: VCG
Tianqi’s Hong Kong stock dropped 0.7% Friday to HK$80 per share, about 2.4% lower than its debut price. Photo: VCG

China’s Tianqi Lithium Corp. (002466.SZ), one of the world’s largest producers of the commodity, said it has used proceeds from its recent Hong Kong public offering to pay off $1.1 billion worth of loans it invested in a Chilean miner.

The loan settlement came as the once debt-ridden lithium producer managed to ease liquidity pressure by taking advantage of soaring prices of the key ingredient of electric-vehicle batteries.

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