Latest news with #EdwinaGibbs
Zawya
16-05-2025
- Business
- Zawya
China's CATL raises $4.6bln in Hong Kong listing, term sheet shows
SYDNEY - Chinese battery giant CATL has raised $4.6 billion in its Hong Kong listing, the largest listing globally so far for 2025. Final pricing was set at HK$263 each, the maximum offer price, according to a term sheet seen by Reuters. That matched information from sources. CATL did not immediately respond to a request for comment. According to the term sheet, 125.4 million shares were sold to institutional investors and 10.16 million shares were sold to Hong Kong retail investors. CATL's deal size could increase to $5.3 billion if a so-called greenshoe option to sell a further 17.7 million shares is exercised. If that goes ahead, CATL's listing will eclipse Midea's $4.6 billion listing last year and be the largest in Hong Kong since Kuaishou Technology raised $6.2 billion in a 2021 initial public offering. The shares are due to start trading on Tuesday on the Hong Kong Stock Exchange. (Reporting by Scott Murdoch; Editing by Edwina Gibbs)
The Star
22-04-2025
- Automotive
- The Star
UK self-driving startup Wayve sets up Japan testing and development centre
Executives from UK self-driving startup Wayve and SoftBank attend an event in Tokyo, Japan, April 22, 2025. REUTERS/Daniel Leussink TOKYO (Reuters) -British self-driving technology startup Wayve said on Tuesday it has established a new testing and development centre in Japan, its first expansion into an Asian market. Wayve said the new centre will allow it to speed up the development of AI-powered driving software in collaboration with automakers and support testing and developing of the technology in Tokyo and surrounding regions. "By incorporating training data from Japan's complex road environments, Wayve will strengthen the generalization of its foundation model and enhance adaptability across global markets," Wayve said in a statement. Japan's third-biggest automaker Nissan said this month its next-generation autonomous driving technology to be launched in fiscal 2027 will feature software supplied by Wayve. Wayve, which is backed by SoftBank Group, is also testing its technology in the United Kingdom, Germany, the United States and Canada. Unlike conventional systems that rely on detailed digital maps and coding, Wayve's technology uses machine learning with camera sensors mounted on the outside of vehicles to learn from traffic patterns and driver behaviour. (Reporting by Daniel Leussink; Editing by Edwina Gibbs)
Zawya
28-02-2025
- Automotive
- Zawya
China's Chery Auto applies for Hong Kong IPO
SHANGHAI - China's Chery Automobile has applied for an initial public offering in Hong Kong, seeking funds to develop new vehicles and technologies as well as to expand in global markets and improve domestic production facilities. Its filing with the Hong Kong stock exchange did not detail the size of the IPO or when a listing might happen. CICC, Huatai Securities and GF Securities were listed as joint sponsors. Chery, China's largest exporter of passenger vehicles in 2023 and 2024, saw net profit jump 59% to 11.3 billion yuan ($1.6 billion) in the first nine months of 2024, according to the filing. Revenue surged 68% to 182.2 billion yuan. Last year it was China's second-biggest car seller after BYD with 2.5 million vehicles sold, most of which were gasoline engine cars, industry data shows. Its main export markets are Russia and Turkey. It also exports to Cuba and Egypt, according to the filing. Chery said in the filing that it considers the risk of being sanctioned by the U.S. for operating in Russia low. ($1 = 7.2870 Chinese yuan) (Reporting by Shanghai and Beijing Newsroom; Editing by Edwina Gibbs)
