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Shares of Tianqi Lithium fell as much as 10% in their Hong Kong market debut Wednesday before closing flat.
The stock fell as much as 11%, hitting a low of 72.65 Hong Kong dollars ($9.25). It later recovered to close at its offer price of HK$82 ($10.45) a share.
The Chinese company raised about $1.7 billion in the city’s biggest listing so far this year.
Tianqi Lithium, which was already listed in Shenzhen, is one of the world’s top suppliers of rechargeable battery components for electric vehicles.
“We are listed in China already and it is already a very good, big platform for financing. But it is limited in China,” Frank Ha, the executive director and CEO at Tianqi Lithium, told CNBC’s…
Source cnbc.com
