Sunwoda EV Battery Is Said to Explore Switching IPO to Hong Kong

Sunwoda Electric Vehicle Battery Co. is considering an initial public offering in Hong Kong instead of Shenzhen, according to people familiar with the matter, as Chinese companies grapple with slow approval processes for listings on mainland exchanges.

The EV battery maker, a unit of Shenzhen-based Sunwoda Electronic Co., is talking with advisers about a possible IPO in the coming quarters, the people said, asking not to be identified discussing confidential information.

Sunwoda Electronic Co. lithium ion batteries during the Beijing Auto Show in April.

Photographer: Qilai Shen/Bloomberg

Sunwoda EVB had submitted an application to list on Shenzhen’s Nasdaq-like ChiNext board last year, with Citic Securities Co. as sponsors. It also raised
1.65 billion yuan ...