The EV battery producer has gone public in China, weeks after raising $193m in a round featuring strategic partner Daimler.

China-based electric vehicle (EV) battery manufacturer Farasis Energy floated on the Shanghai Stock Exchange’s Star Market today in a RMB3.4bn ($486m) initial public offering, providing an exit for carmaker Daimler, DealStreetAsia reported.

The company issued just over 214 million shares priced at RMB15.90 each, and its shares closed at RMB27.96 on their first day of trading.

Farasis produces lithium-ion batteries for the transport sector, and maintains research and development centres in the United States and Germany as well as its…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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