On February 7, the share price of Tianqi Lithium Corporation(002466) (002466) plunged 6%. On that day, the listed company announced that the participating company sesholdingspte Ltd (hereinafter referred to as "SES") will be officially listed soon.
According to the announcement on the evening of Tianqi Lithium Corporation(002466) February 7, the joint-stock company sesholdingspte was received on Tianqi Lithium Corporation(002466) January 10, 2022 Ltd. (hereinafter referred to as "SES") has notified that its business merger with Ivanhoe capital acquisition Corp. (NYSE: Ivan, Ivanhoe capital acquisition company, hereinafter referred to as "Ivanhoe") has been approved by the U.S. Securities and Exchange Commission. Ivanhoe will hold an extraordinary general meeting of shareholders on February 1, 2022 Eastern time to consider the business merger of the two sides; SES will be officially listed after being deliberated and approved by the extraordinary general meeting of shareholders. The business merger is expected to be completed simultaneously with the private placement and non-public offering of about US $275 million of common shares.
On February 1, 2022, Ivanhoe held an extraordinary general meeting to consider and approve the business merger with SES, and Ivanhoe changed its name to "sesaiccorporation"; On February 3, 2022, it completed the private placement and non-public offering of common shares with an issue price of US $10.00 per share, raising a total of about US $275 million; On February 4, 2022, the class a common shares and warrants of the merged company began trading on the New York Stock Exchange, with the new stock codes of "SES" and "sesws" respectively.
Tianqi Lithium Corporation(002466) said that the merger of SES and Ivanhoe in the business field will create better conditions for them to implement longer-term strategic planning in the future, so as to further accelerate the commercialization process of lithium metal batteries and lay a solid foundation for their market exploration and development in relevant business fields.
The announcement shows that as of the disclosure date of the announcement, Tianqi Lithium Corporation(002466) holds 27.7679 million shares of SES, and the sales restriction period is within 180 days from the date of listing.
Prior to the listing of SES, Tianqi Lithium Corporation(002466) recognized the shares of SES as long-term equity investment and accounted according to the equity method; After the listing of SES, Tianqi Lithium Corporation(002466) will no longer retain the seat on the board of directors of SES. According to the relevant provisions of the accounting standards for business enterprises, Tianqi Lithium Corporation(002466) will terminate the recognition of SES shares as long-term equity investment, and recognize them as financial assets measured at fair value and whose changes are included in other comprehensive income, which will be accounted in the investment account of other equity instruments.
Previously, on January 27, Tianqi Lithium Corporation(002466) announced that the company's operating revenue in 2021 is expected to rise significantly compared with that in 2020, and will realize the attributable net profit of 1.8 billion yuan to 2.4 billion yuan, the earnings per share of 1.22 yuan to 1.62 yuan, and the company's loss of 1.834 billion yuan in the same period of last year.
Tianqi Lithium Corporation(002466) said that the expected substantial increase in performance was mainly due to the significant increase in the sales volume and average sales price of the company's main lithium products in 2021 compared with 2020 due to the improvement of the global new energy vehicle boom, the accelerated capacity expansion of lithium-ion battery manufacturers, the pick-up of downstream cathode material orders and other positive factors.
In addition, Tianqi Lithium Corporation(002466) is expected to associate with Sociedad Qu í micaymineradechile s A2021's annual performance will increase significantly year-on-year. At the same time, the company recognized 673 million yuan of debt restructuring income related to the extension of syndicated M & A loans and 609 million yuan of amortization of unrecognized financing expenses in the corresponding period. Among them, the income from debt restructuring belongs to non recurring profits and losses; The amortization of unrecognized financing expenses is included in financial expenses and does not belong to non recurring profits and losses.
Since 2021, Tianqi Lithium Corporation(002466) share price has risen about 112% as a whole. As of the closing on February 7, Tianqi Lithium Corporation(002466) share price was 83.08 yuan / share, and the share price closed down 6.02% on the same day, with a total market value of 122.7 billion yuan.
