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Tianqi Lithium Corp. Class H ( (HK:9696) ) has shared an update.
Tianqi Lithium Corporation has completed a significant transaction involving its former wholly-owned subsidiary, Tianqi Lithium Energy Australia Pty Ltd (TLEA), by introducing IGO Limited as a strategic investor. This capital increase and share expansion resulted in Tianqi holding 51% and IGO holding 49% of TLEA’s registered capital. The transaction, completed with a capital injection of USD1.395 billion from IGO, aims to strengthen Tianqi’s market position. However, the transaction’s tax implications are still under review by the Australian Taxation Office, which could impact the company’s financial standing if adverse rulings occur.
The most recent analyst rating on (HK:9696) stock is a Hold with a HK$37.00 price target. To see the full list of analyst forecasts on Tianqi Lithium Corp. Class H stock, see the HK:9696 Stock Forecast page.
More about Tianqi Lithium Corp. Class H
Tianqi Lithium Corporation is a major player in the lithium industry, focusing on the production and supply of lithium compounds and derivatives. The company is strategically positioned in the market to cater to the increasing demand for lithium used in batteries, particularly for electric vehicles and energy storage solutions.
Average Trading Volume: 5,671,596
Technical Sentiment Signal: Buy
Current Market Cap: HK$77.33B
Learn more about 9696 stock on TipRanks’ Stock Analysis page.