Chinese battery maker Sunwoda raises about $440 million in Swedish IPO

2022-11-15 07:35:01

(Image source: Sunwoda)

Asian Tech Press (Nov 15) -- Chinese battery maker Sunwoda Electronic Co. raised about $440 million in an IPO in Sweden.

Sunwoda formally listed and started trading on the SIX Swiss Exchange on Monday, following Chinese rival Gotion High-tech Co Ltd's successful listing in Sweden at the end of July this year.

In this IPO, Sunwoda issued 28,759,000 global depository receipts (GDRs) at an offering price of $15.3, raising approximately $440 million.

Founded in 1997 and headquartered in Shenzhen, Sunwoda specializes in the R&D, design, manufacturing and sales of lithium-ion battery cells and modules.

The company has entered into strategic partnerships with a number of automobile companies, including Geely, GAC, SAIC, Renault Group and Nissan Motor.

Sunwoda

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Huawei's Automotive BU spin-off is in the countdown, and old employees are expected to receive extra compensation when they transfer to other companies? Insider: I haven't heard of it.
                            2024-12-27

                                    Mao Yinian, Vice President of Meituan: Meituan has invested in several robot companies including Yushu and Galaxy General
                            2024-12-27

                                    A-share SMIC rose more than 5%
                            2024-12-27

                                    Meituan Vice President Mao Yinian: Meituan has obtained Dubai drone delivery commercial operation qualification
                            2024-12-27

                                    Henan Provincial Development and Reform Commission held a symposium on the development of new energy vehicle industry
                            2024-12-27