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EV Battery Maker REPT Seeks Funding Before Hong Kong IPO

  • Firm seeking to raise funds at nearly $4.7 billion valuation
  • Hong Kong listing could help firm raise $1 billion or more

Ruipu Energy Co., a Chinese maker of batteries for electric vehicles backed by the world’s largest nickel producer, is considering raising funds ahead of a potential listing in Hong Kong as early as this year, according to people familiar with the matter.

REPT, as the business is known, is seeking to raise funds at a valuation of nearly 30 billion yuan ($4.7 billion), the people said, asking not to be identified because the matter is private. The company, whose investors include China’s Tsingshan Holding Group Co., aims to raise about 3 billion yuan from new and existing backers, the people said.