Deals
Sunwoda Taps Goldman Sachs, UBS for $500 Million Swiss Listing
- Battery maker’s GDR sale could take place as soon as September
- Firm joining Ningbo Shanshan and Gotion High-Tech in GDR plan
This article is for subscribers only.
Battery maker Sunwoda Electronic Co. is working with Goldman Sachs Group Inc. and UBS Group AG for a sale of global depositary receipts in Switzerland that could raise as much as $500 million, according to people familiar with the matter.
A Swiss share sale by the Shenzhen-listed company could happen as soon as September, said the people, who asked not to be identified as the information is private. Sunwoda opted for a GDR sale -- an initiative encouraged by Beijing -- after previously considering a Hong Kong listing, one of the people said.