CALB Co., Ltd., a prominent battery supplier for electric vehicle (EV) makers, was officially listed on the Hong Kong Stock Exchange (HKEX) on October 6.

Sheng Lei, deputy secretary of the CPC Changzhou Municipal Committee and mayor of Changzhou Municipal People’s Government, attended the listing ceremony and delivered a speech.

The firm marketed about 265.8 million shares at HK$38 each and raised about HK$10.1 billion in its Hong Kong initial public offering (IPO).

Headquartered in the Jintan district of Changzhou, CALB specializes in the research, development, production, and sales of EV batteries and energy storage systems.

Mayor Sheng pointed out in her speech that capital markets, as a crucial part of the modern economy, are a strong driving force for supply-side structural reform and domestic-international dual circulation.

As of this update, Changzhou has 85 listed companies that have raised approximately RMB¥150 billion in total.