By Tracy Qu
China's battery-equipment maker Wuxi Lead Intelligent Equipment raised $630.7 million in its secondary listing in Hong Kong.
The stock was little changed from the initial public offering price of HK$45.80, equivalent to US$5.86, in Wednesday morning trade. That compares with the benchmark Hang Seng Index's 0.2% gain. The company's Shenzhen-listed stock was 3.9% lower.
The company raised HK$4.93 billion in gross proceeds from the issuance of 107.66 million shares with the offer size adjustment option and over-allotment option exercised.
Wuxi Lead, which counts CATL, Tesla, and Volkswagen as its customers, is the world's largest lithium-ion battery intelligent equipment provider. It commanded 15.5% of the global market by revenue in 2024, according to market-research firm Frost & Sullivan.
Hong Kong was one of the world's busiest listing venues in 2025, raising HK$285.8 billion through listings, according to data from Hong Kong Exchanges & Clearing, more than tripling from the amount raised in the prior year.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
02-10-26 2149ET
