batteries

A market leading supplier of batteries for electronic bikes, Chaowei Power attracts good demand from international investors for its renminbi-denominated offering.

Leoch International Technology, a Chinese lead-acid battery manufacturer, is offering 333.33 million new shares at an indicative price of HK$3.75 to HK$5.35 each.

Chaowei Power aims to raise up to $93 million and has attracted Malaysia's Khazanah as a cornerstone investor covering 30% of the deal.

An existing shareholder sells $422 million worth of shares in Tata Motors, while Exide Industries completes a $119 million QIP. Meanwhile, in Hong Kong, Zhongsheng prepares to start the bookbuilding for its recently withdrawn IPO of up to $1 billion.

Chairman of tobacco flavouring company Huabao sells $150 million worth of shares, while battery maker Tianneng Power raises $50 million from the sale of new and existing shares.