HONG KONG -- Struggling Chinese miner Tianqi Lithium has abruptly canceled its plan to issue up to $2.45 billion in new shares to its top stakeholder after the Shenzhen Stock Exchange queried the move.
China debt crunch
Tianqi Lithium cancels $2.5bn share sale after exchange objects
Shenzhen bourse questioned how purchase by chairman's company would be financed
A worker at a SQM lithium mine processing plant. Tianqi Lithium resolved to sit out SQM's latest capital raising. (Photo by Nozomu Ogawa)
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