Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Tianqi Lithium Corp    002466   CNE100000T32

TIANQI LITHIUM CORP (002466)
My previous session
Most popular
  Report  
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

China's Sinochem says no plans to bid for stake in Chilean lithium producer SQM

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/24/2017 | 04:34am CEST

BEIJING (Reuters) - China's state-owned Sinochem Group [SINOC.UL] on Tuesday appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM (>> Sociedad Quimica y Minera (A Share)) being sold by Canada's PotashCorp (>> Potash Corporation of Saskatchewan Inc).

BEIJING (Reuters) - China's state-owned Sinochem Group [SINOC.UL] on Tuesday appeared to deny a media report that it was bidding for a stake in Chilean lithium producer SQM (>> Sociedad Quimica y Minera (A Share)) being sold by Canada's PotashCorp (>> Potash Corporation of Saskatchewan Inc).

"Up until now, neither Sinochem Group nor our subsidiaries have had such intentions or plans," the company said in response to a request for comment from Reuters.

The Financial Times reported on Monday that Sinochem, a Beijing-based chemicals and oil conglomerate, was among four Chinese bidders for a $4 billion stake in Chile's Sociedad Quimica Y Minera (SQM), one of the world's largest lithium producers. It cited people familiar with the process.

Lithium is a key raw material for batteries in electric vehicles, which are enjoying a massive rise in popularity in China.

The other Chinese bidders named by the Financial Times were Ningbo Shanshan (>> Ningbo Shanshan Co., Ltd), Tianqi Lithium and GSR Capital.

Ningbo Shanshan also said that it was not participating in a bid to acquire equity in SQM, while Tianqi Lithium (>> Tianqi Lithium Industries Inc) and GSR Capital did not respond to requests for comment.

Potash Corporation of Saskatchewan Inc was in September reported to have hired Goldman Sachs and BofA Merrill Lynch to explore selling its 32 percent stake in SQM.

(Reporting by Tom Daly; Editing by Joseph Radford)

By Tom Daly

Stocks mentioned in the article
ChangeLast1st jan.
NINGBO SHANSHAN CO., LTD 3.11% 16.89 End-of-day quote.-12.85%
POTASH CORPORATION OF SASKATCHEWAN INC -0.19% 25.78 End-of-day quote.0.00%
SOCIEDAD QUIMICA Y MINERA (A SHARE) --End-of-day quote.
TIANQI LITHIUM CORP --End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TIANQI LITHIUM CORP
09/18Nutrien Responds to Statement from SQM on Agreement between Tianqi and the FN..
AQ
09/05Exclusive - Lithium producer Albemarle eyes buying rival if IPO stumbles
RE
06/16Chile antitrust regulator to probe Tianqi purchase of SQM stake
RE
05/21NUTRIEN : Tianqi Lithium Agrees to Purchase Nutrien's SQM A Share Investment; AL..
AQ
05/21NUTRIEN : Tianqi Lithium Agrees to Purchase Nutrien's SQM A Share Investment
AQ
05/18TIANQI LITHIUM : Buys Minority Stake in SQM for US$4.07 Billion
AQ
05/17TIANQI LITHIUM : Nutrien sells stake in Chilean lithium producer for $5.2B to li..
AQ
05/17China's Tianqi Lithium to buy a quarter of Chile's SQM for $4.1 billion
RE
05/16EXCLUSIVE : China's Tianqi nears $4.3 billion deal to buy stake in Chile's SQM -..
RE
04/04China miner Tianqi meets with Chilean anti-trust prosecutor on SQM
RE
More news
Financials (CNY)
Sales 2018 6 482 M
EBIT 2018 4 153 M
Net income 2018 2 452 M
Finance 2018 2 449 M
Yield 2018 0,71%
P/E ratio 2018 16,94
P/E ratio 2019 13,55
EV / Sales 2018 6,04x
EV / Sales 2019 4,56x
Capitalization 41 605 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 61,8  CNY
Spread / Average Target 70%
EPS Revisions
Managers
NameTitle
Wei Wu General Manager & Director
Wei Ping Jiang Chairman
Qing Yang Chairman-Supervisory Board
Jun Zou Director, Chief Financial & Accounting Officer
An Qi Jiang Director
Sector and Competitors
1st jan.Capitalization (M$)
TIANQI LITHIUM CORP6 069
INDUSTRIAS PENOLES SAB DE CV-17.99%7 144
GANFENG LITHIUM CO LTD--.--%4 745
ALLEGHENY TECHNOLOGIES INCORPORATED18.10%3 583
AURUBIS-22.69%3 174
GEM CO LTD--.--%3 156