Futu News reported on July 12, this Tuesday $TIANQI LITHIUM (09696.HK)$The company announced the issuance of 164 million shares at HKD 82 per share, with a minimum board lot of 200 shares, and an expected listing date of July 13.
During the public offering phase, Tianqi Lithium received 9.3 times subscription. The final number of shares allocated to the public offering was 16.4124 million shares, accounting for approximately 10% of the total number of offer shares (before any over-allotment option is exercised). A total of 20,100 valid applications were received, with a 100% success rate for one-lot applications.
In addition, the international offering was oversubscribed, with the final number of shares amounting to approximately 148 million shares, representing about 90% of the total number of offer shares (before any over-allotment option is exercised). Futu News compiled relevant data in the table below:
Regarding the use of proceeds, the company plans to allocate net proceeds from the global offering (after deducting related expenses) of approximately HKD 13.062 billion for the following purposes: approximately HKD 8.865 billion will be used to repay the outstanding balance of SQM debt; approximately HKD 1.17 billion will be used to fund Phase I construction of the Anju factory; approximately HKD 1.721 billion will be used to repay certain domestic bank loans in China with interest rates ranging from 4.35% to 5.49% and maturity dates between September 2022 and June 2025, which were taken for operational capital purposes and construction of Tianqi's Global R&D Center in Tianfu New Area, Chengdu, China; HKD 1.306 billion will be used for working capital and general corporate purposes...