Reported 6 months ago
Sunwoda Electric Vehicle Battery Co., a unit of Sunwoda Electronic Co. based in Shenzhen, is reportedly considering shifting its planned initial public offering (IPO) from Shenzhen to Hong Kong due to challenges with approval processes in China. The company had applied to list on Shenzhen’s ChiNext board last year and raised 1.65 billion yuan in a financing round. Sunwoda EVB is in discussions with advisors regarding a potential IPO in the upcoming quarters. The parent company's shares have seen minimal growth this year, and the battery maker supplies automakers like Dongfeng Motor Group Co. and Geely Automobile Holdings Ltd.
Source: YAHOO