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Clifford Chance advises on CALB's US$1.3 billion Hong Kong IPO and Listing

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6 October 2022

Clifford Chance advises on CALB's US$1.3 billion Hong Kong IPO and Listing

Leading international law firm Clifford Chance has advised sponsor Huatai Securities Company Limited on the US$1.3 billion global initial public offering of H Shares and listing of leading EV battery manufacturer CALB Co., Ltd. ("CALB") on the main board of the Hong Kong Stock Exchange. Jiangsu-based CALB is among the largest EV battery suppliers in China.

Huatai, J.P. Morgan and Citi are the joint global coordinators. The joint global coordinators together with Credit Suisse are the joint bookrunners and joint lead managers for the Global Offering.

China Co-Managing Partner Tim Wang co-led the deal with partners Virginia Lee, Fang Liu and Tianning Xiang. They were supported by a Greater China team including counsel Lorna Lyu, senior associate Emma Bao, associates Meng Mao, Shiyuan Pei, Emily Tong, Jingyi Zhang and trainee Fanny Song, legal analysts Sally Zhang and Limeizi Xu.

Tim said, "We are glad to have advised on CALB's milestone listing, which highlights the rapid development of China's lithium battery and EV industry. This IPO, along with our work advising on Leapmotor's recent $807 million IPO, adds to our impressive track record advising companies shaping the global electrification of the transport sector."

Clifford Chance recently advised on several deals in the EV sector, including Tianqi Lithium’s US$1.7 billion IPO and the pioneer GDR listings of three EV battery related companies on the SIX Swiss Exchange.