By Yifan Wang

Chinese battery maker CALB Co. has priced its Hong Kong initial public offering at 38 Hong Kong dollars (US$4.84) a share, aiming to raise an estimated US$1.26 billion in net proceeds.

The share sale is set to be one of the largest public offerings in Hong Kong amid a difficult year for new stock listings.

CALB said the Hong Kong portion of its offering has been under-subscribed.

Companies' interest and investors' appetite in public offerings have waned this year as global central banks tighten monetary policies and macroeconomic uncertainties curb risk sentiment.

CALB said it will use the proceeds to build new production facilities for electric-car batteries and energy storage systems, as well as to invest in technology research and development.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

10-04-22 2042ET