Tianqi Xinlong Technology (Chengdu) Co., Ltd. announced that it will issue 6,337,400,000 common shares at a price of CNY 1 per share for total gross proceeds of CNY 6,337,400,000 in a round of funding on July 19, 2022. The transaction will include participation from returning investor Tianqi Lithium Corporation. The capital increase is fully funded by the company, and the objects of capital increase are all wholly-owned subsidiaries of the company, and there are no other counterparties.
The transaction has been approved in the 26th meeting of the 5th board of directors and the 21st meeting of the 5th board of supervisors . After the completion of the transaction, registered capital will be increased from CNY 5,200,000,000 to CNY 11,537,400,000.