Tianqi Lithium (09696.HK): To Place 65.05 Million New H-Shares and Issue RMB 2.6 Billion Zero-Coupon Convertible Bonds

NewTimeSpace News: Tianqi Lithium Corporation (09696.HK) announced on February 4 that the company's board of directors has passed a resolution to launch two strategic financing arrangements, including the placement of new H-shares pursuant to the general mandate, and the concurrent issuance of US dollar-settled zero-coupon convertible bonds maturing in 2027.

Pursuant to the placing agreement, the company will place 65,050,000 new H-shares at a placing price of HK$45.05 per share, representing a discount of approximately 9.0% to the closing price on February 3, 2026. The placed shares account for approximately 39.64% of the total existing issued H-shares of the company.

At the same time, the company has also entered into a subscription agreement to issue zero-coupon convertible bonds with an aggregate principal amount of RMB 2.6 billion, with an initial conversion price of HK$49.56 per H-share. If all the bonds are converted, they can be converted into approximately 59,091,758 H-shares.

Assuming all the placed shares are fully placed and the bond issuance is completed, the total gross proceeds from the placing and the bond issuance are expected to be approximately HK$5.861 billion, and the total net proceeds (after deducting the placing-related commissions and expenses payable and the bond-related commissions) are expected to be approximately HK$5.829 billion. The company stated that the funds raised from the placing and the bond issuance will be mainly used for the following purposes: capital expenditure required for the development and optimization of lithium resource projects; strategic mergers and acquisitions of high-quality lithium mine assets; and supplementing working capital for general corporate purposes.

The relevant arrangements for this financing have been approved by the company's board of directors. The company will proceed with the subsequent listing and filing procedures in accordance with regulatory requirements, and timely fulfill its information disclosure obligations.