Envision AESC Is Said to Consider Up to $2 Billion HK IPO

Envision AESC, a major global manufacturer of lithium-ion batteries for electric vehicles and energy storage systems, is considering an initial public offering in Hong Kong as soon as this year, according to people familiar with the situation.

The company, which counts Singaporean wealth fund GIC Pte and private equity firm HSG as backers, is working with China Merchants Securities Co., Deutsche Bank AG and Huatai Securities Co. on the potential share sale, the people said, asking not to be identified discussing a private matter. It could raise $1 billion to $2 billion from the offering, two of the people said.