A woman walks past Exchange Square which houses the Hong Kong Stock Exchange in Hong Kong on April 27, 2022. (DALE DE LA REY / AFP)
Electric-vehicle battery maker CALB Co Ltd said on Thursday it plans to raise about HK$11.56 billion (US$1.47 billion) in a Hong Kong Special Administrative Region initial public offering as it looks to raise funds for the construction of battery production lines.
CALB said it plans to use the funds for constructing EV battery production lines totaling 95 Gigawatt hours for its new production facilities in Chinese mainland at Chengdu, Wuhan, Hefei, Guangdong and Sichuan
The estimated net proceeds from the Hong Kong listing assumes an offer price of HK$44.50 per share, which is the midpoint of CALB's offer price range.
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The company could raise up to HK$13.56 billion based on the maximum offer price of HK$51.00 per share.
CALB said it plans to use the funds for constructing EV battery production lines totaling 95 Gigawatt hours for its new production facilities in Chinese mainland at Chengdu, Wuhan, Hefei, Guangdong and Sichuan.
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