CALB, a Chinese battery supplier for electric vehicle makers, has raised about HK$10.1 billion ($1.3 billion) after pricing its Hong Kong initial public offering at the bottom of its marketed range, reports Bloomberg.
The Jiangsu-based company has priced the offering at HK$38 per share, according to the terms. The firm marketed about 265.8 million shares at HK$38 to HK$51 each. An external representative for CALB declined to comment.
The offering drew 15 cornerstone investors who agreed to purchase around $735.5 million worth of stock in the offering. They include Tianqi Lithium, which began trading in Hong Kong in July, electric carmaker XPeng and phone manufacturer Vivo Mobile Communication.