Battery-Maker CALB Seeks Up to $1.7 Billion in Hong Kong IPO

(Bloomberg) — CALB Co. Ltd., a Chinese battery supplier for electric vehicle makers, is seeking to raise as much as HK$13.6 billion ($1.7 billion) in its Hong Kong initial public offering.

The Jiangsu-based company will start taking orders from investors for about 265.8 million shares and is marketing them at between HK$38 and HK$51 each, according to the prospectus. Tianqi Lithium Corp., electric carmaker XPeng Inc. and phone firm Vivo Mobile Communication Co. Ltd. are among the 15 cornerstone investors that agreed to purchase around $735.5 million worth of stock.