China Lithium Tech to File for $1.5 Billion Hong Kong IPO, Sources Say

(Bloomberg) -- China Aviation Lithium Battery Technology Co. plans to file for a Hong Kong initial public offering as early as this week, according to people familiar with the matter.

The Jiangsu-based electric vehicle battery maker is working with Huatai Securities Co. on the listing, which could raise as much as $1.5 billion, the people said, asking not to be identified as the information is confidential. The share sale could happen in the coming months, they said.

At $1.5 billion, China Lithium Tech’s IPO could be Hong Kong’s biggest in 2022, according to data compiled by Bloomberg. Companies so far have only raised about $1.4 billion through first-time share sales in the city this year as the effects of China’s clampdown on overseas listings and the Ukraine war led to a slowdown in activity.

Deliberations are ongoing and details of the offering such as size and timing could change, the people said. Representatives for China Lithium Tech and Huatai Securities declined to comment.

Established in 2007, China Lithium Tech makes lithium batteries for electric vehicles and other products. It operates eight major production bases in China, including Changzhou, Luoyang and Wuhan, according to its website.

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