New Stock News | Farasis Energy Plans to List in Hong Kong, Fundraising up to $2 Billion

According to reports, Envision AESC, a global leading manufacturer of electric vehicles and storage system lithium-ion batteries, is considering an IPO in Hong Kong as soon as this year. The company is in cooperation with investment banks on potential IPO matters, aiming to raise $1 billion to $2 billion (7.8 billion to 15.6 billion Hong Kong dollars). Sources mentioned in the report stated that discussions are still ongoing and details such as timing and size may change. Envision AESC is supported by Singapore's sovereign wealth fund GIC Pte and private equity firm Redshirt. The company has manufacturing bases in countries including the United States, United Kingdom, France, Spain, China, and Japan. Its clients include multiple large automotive manufacturers globally. Information indicates that Envision AESC is an intelligent battery technology company under Envision Group, established in 2019 and formerly a joint venture between Nissan and NEC known as AESC (Automotive Energy Supply Corporation). The company is primarily involved in research, design, manufacturing, and sales of power battery systems and energy storage battery systems, with business operations covering multiple countries and regions worldwide.