Latham & Watkins advises Tianqi Lithium on its HK$13.5 billion H share IPO

Latham & Watkins has advised Tianqi Lithium, a leading global lithium producer, on its HK$13.5 billion (US$1.7 billion) H share initial public offering (IPO) on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). The offering consisted of 164,122,200 H Shares (subject to the over-allotment option) at a final offer price of HK$82 per share, which is at the high end of the indicative price range. The transaction represents the largest IPO on the HKEX, and one of the largest global IPOs, to date in 2022. If the over-allotment option is fully exercised, the total capital raised could be increased to almost US$2 billion.

Tianqi Lithium is a leading lithium producer in China and globally, and has been listed on the Shenzhen Stock Exchange since August 31, 2010. Tianqi Lithium owns and mines lithium minerals in Australia and produces lithium compounds and derivatives in China. Latham has also advised Tianqi Lithium on various financing and restructuring matters over recent years.

The Latham team was led by Hong Kong partners Howard Lam, Cathy Yeung, and Terris Tang, with partner Benjamin Su, counsel Zheng Wang, and associates Carson Wong, Mia Gu, Jovi Cheng, and Ruonan Duan.