BRIEF: Wuxi Lead Intelligent launches $534 million Hong Kong IPO

Electric vehicle (EV) battery equipment maker Wuxi Lead Intelligent Equipment Co. Ltd. (0470.HK; 300450.SZ) launched its Hong Kong IPO on Tuesday, aiming to raise HK$4.17 billion ($534 million) through the sale of 93.6 million H-shares for HK$45.80 apiece. Applications to buy the stock will be accepted through Feb. 6, with a trading debut set for Feb. 11.

Eleven cornerstone investors have agreed to buy about $275 million worth of shares, or half of the amount being sold.

Wuxi Lead Intelligent is part of a growing group of companies listed on China’s domestic markets in Shenzhen and Shanghai now making second listings in the more internationally focused Hong Kong. The company’s revenue contacted in 2024, but resumed growth in the first three quarters of 2025, rising 15% year-on-year to 10.4 billion yuan ($1.5 billion). Its net profit in the first nine months of last year nearly doubled year-on-year to 1.2 billion yuan.

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