China’s EV Battery Runner-Up is Worth a Look

The coming listing of a Chinese battery maker could give a jolt to Hong Kong’s lackluster initial public offering market. CALB, China’s third largest electric-vehicle battery maker, will keep riding the tailwind of China’s electric vehicle boom—though rising costs and geopolitics pose risks.

CALB’S IPO could make it one of the biggest deals this year in an otherwise quiet period—media reports suggest it is seeking $2 billion although the company has yet to publicly disclose how much it wants to raise. Nonetheless its selling point for investors is clear: It will be supercharged by the booming EV market in China, and globally.