Great Wall Motors spinoff SVolt has filed for a $2.1bn initial public offering while several corporates are set to exit online publisher Note in its own IPO.
Public markets
SVolt Energy, an electric vehicle producer spun off by China-based carmaker Great Wall Motors, has filed to raise up to RMB15bn ($2.1bn) in an initial public offering on the Shanghai Stock Exchange’s Star Market. It had raised over $3.2bn as of a $943m series B-plus round in December 2021, from investors including laser equipment producer Han’s Laser Technology, automotive component maker Changzhou Xingyu Automotive Lighting Systems, consumer electronics manufacturer Xiaomi, heavy equipment manufacturer Sany and insurers PICC and Takiang.
Japan-based online publishing platform developer Note has filed for an initial public offering on Tokyo Stock Exchange and plans to issue an initial 210,000 shares priced at an estimated ¥300 ($2.11) each. Its investors include Shinsei Bank’s Femto Fund, which owns a 13.1% stake, media company Nikkei (6.1%), internet group Tencent (5.9%),…
