Khazanah cornerstones Hony investee Chaowei Power IPO
Chaowei Power Holdings Ltd., a PRC electric bike motor battery manufacturer, debuted on the Stock Exchange of Hong Kong, collecting HK$474.8 million ($61 million), but saw its stock fall over 9% on its first trading day, amid global and PRC economic uncertainties.
As a cornerstone IPO investor, Chaowei Power attracted Malaysian SWF Khazanah Nasional, which has subscribed 7.5% of the enlarged share capital for $21 million, or 30% of the total IPO issue. Chaowei Power...
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