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TIANQI LITHIUM Sinks 12%+ on Proposed New H-Shr Placement & CB Issuance to Raise HKD5.8B+
Recommend 5 Positive 7 Negative 8 |
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TIANQI LITHIUM (09696.HK) resumed trading today (5th), yet it dropped by 4.32% at open and once sank to a bottom of HKD43.42. It last traded at HKD43.46, down 12.2%, with a volume of 6.5613 million shares, involving HKD292 million. The company plans to place 65.05 million new H-shares with a 90-day lock-up period at a placement price of HKD45.05, representing a 9% discount to the previous closing price. Concurrently, TIANQI LITHIUM will issue RMB2.6 billion USD-settled zero-coupon convertible bonds due 2027, with the initial conversion price adjusted from HKD49.56 per H-share to HKD51.85. The total and net fundraising amount are HKD5.861 billion and HKD5.829 billion, respectively. AAStocks Financial News |
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