Chinese Battery Maker CALB Makes Lukewarm Debut in Hong Kong

(Bloomberg) ― Life as a newly minted public company didn’t get off to the roaring start that China Aviation Lithium Battery Co. Ltd. (CALB), China’s third-largest electric vehicle battery maker, might have hoped for. Rivals LG Energy Solution soared 68% on its debut, and Contemporary Amperex Technology Co. Ltd. (CATL) gained 44% on day one.

CALB sold shares in Hong Kong late last week to a muted response from investors. After opening at HK$38 ($4.84) apiece, the stock closed Monday at HK$34.60. It still wasn’t as poor a performance as Zhejiang Leapmotor Technologies, whose electric cars CALB helps power.