China’s REPT BATTERO to raise up to $306 million in Hong Kong IPO

(Reuters) – Chinese lithium ion battery developer REPT BATTERO Energy Co said on Friday it plans to raise up to HK$2.39 billion ($305.96 million) in its Hong Kong initial public offering (IPO) later this month.

The company will issue 116.1 million H-shares priced at HK$20.60 per H-share, according to regulatory filings.

Shanghai-based REPT BATTERO will seek to keep the offer price to a maximum of HK$20.60 per H share and not any less than HK$18.20, according to the filing.

The battery developer will issue up to 11.6 million H-shares to Hong Kong investors and 104.5 million H-shares to overseas investors under the global offering.

The dealings in the H-shares are expected to start on Dec. 18.

REPT BATTERO has R&D centers in Shanghai, Wenzhou, and Jiaxing, as well as production bases in other cities such as Wenzhou, Jiaxing, Liuzhou, Foshan, and Chongqing.

($1 = 7.8115 Hong Kong dollars)

(Reporting by Nausheen Thusoo in Bengaluru; Editing by Sherry Jacob-Phillips)