trending Market Intelligence /marketintelligence/en/news-insights/trending/ebjYT7Vz5BOmo7aEh7FrYw2 content esgSubNav
In This List

Tianqi, Chengtun acquiring 3% each in Xiamen Tungsten's lithium battery unit

Blog

Lithium prices hold firm, cobalt prices rally

Blog

Profit margins key to Tsingshan's battery nickel supply plans

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

The Future of Risk Management Digitization in Credit Risk Management


Tianqi, Chengtun acquiring 3% each in Xiamen Tungsten's lithium battery unit

Xiamen Tungsten Co. Ltd. said March 12 that Tianqi Lithium Corp. and Chengtun Mining Group Co. Ltd will each acquire a 3% stake in its lithium battery arm, Xiamen Tungsten New Energy Material Co. Ltd., at 8.82 Chinese yuan per share.

Tianqi and Chengtun will both inject 49.9 million yuan into Xiamen Tungsten New Energy.

The company also said another six investors, including Fujian Metallurgy Holding Co. Ltd., will be brought in to purchase Xiamen Tungsten New Energy's shares at 8.82 apiece.

As of March 11, US$1 was equivalent to 6.73 Chinese yuan.