Market Chatter: CATL-Backed EV Maker Avatr Plans Hong Kong IPO

MT Newswires Live
Sep 24

Chinese electric vehicle maker Avatr Technology is planning a Hong Kong initial public offering in the fourth quarter and may file as early as October, The Standard reported Tuesday, citing Cailian Press.

The startup, backed by Chongqing Changan Automobile (SHE:000625, SHE:200625), Huawei, and Contemporary Amperex Technology (SHE:300750, HKG:3750), is reportedly targeting about $1 billion in proceeds.

Avatr aims to complete the listing and begin trading by the second quarter of next year, according to the report.

Changan and CATL are the company's largest shareholders with 41% and 14% stakes respectively, while Huawei is a strategic partner, providing intelligent driving systems and other advanced vehicle components, it added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10