China's EV battery makers plan Hong Kong listings, eyeing global market
Sunwoda and Eve Energy hope to follow CATL's blockbuster IPO in May
Sunwoda supplies batteries to state-owned Dongfeng Motor Group, Dongfeng Nissan and privately owned Chinese automaker Geely. (Photo by Shizuka Tanabe)
SHIZUKA TANABE
GUANGZHOU -- Chinese electric vehicle battery makers like Sunwoda Electronic and Eve Energy have laid out plans to list on the Hong Kong Stock Exchange, looking to raise funds to increase production capacity abroad and boost global competitiveness.
Sunwoda's board passed a resolution this week to aim for a Hong Kong listing. Under the resolution, valid for two years, the company would offer less than 15% of its total number of issued shares, including new shares. Already listed on the Shenzhen Stock Exchange, it would become a dual-listed company.
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