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Calb Seeks Nod for $2 Billion Hong Kong IPO This Week, Sources Say

  • Battery maker could raise up to $2 billion including greenshoe
  • Calb’s IPO could be Hong Kong’s second biggest this year

Calb Co., a Chinese battery supplier for electric vehicle makers, is planning to seek Hong Kong stock exchange approval for its initial public offering in the city as soon as this week, according to people familiar with the matter.

The Jiangsu-based company could be scheduled for a listing hearing on Thursday, said the people, who asked not to be identified as the information is private. Calb could raise as much as $2 billion in the IPO if it fully exercises its over-allotment option, the people said.