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CATL’s Battery Rival Starts Gauging Demand for $2 Billion Hong Kong IPO

  • Battery maker to check demand from Sept. 12 to Sept. 22: Terms
  • Co. plans to use money for expansion, R&D and working capital

Chinese battery maker CALB Co. has started gauging investor demand for its $2 billion Hong Kong initial public offering. 

The Jiangsu-based lithium battery maker, a competitor for bellwethers Contemporary Amperex Technology Co. and BYD Co., will assess demand for its shares from Sept. 12 to Sept. 22, according to terms of the deal obtained by Bloomberg.