Founded in 1997 in Shenzhen, Sunwoda Electronic is a global supplier of lithium-ion batteries, 3C batteries, and electric vehicle batteries.
On November 14, 2022, the Chinese battery maker Sunwoda Electronic Co. Ltd (300207. SZ) issued global depositary receipts (GDRs) to celebrate its public listing on the Six Swiss Exchange. It is a milestone for the company’s globalization and also implies that geopolitical tension makes raising capital in the United States more challenging.
As the seventh Chinese company to be listed on the Six Swiss Exchange, Sunwoda placed 28.759 million GDRs at an offer price of USD 15.3 per GDR, with one GDR representing an interest in five A-shares of the company. The company raised USD 440 million in this equity issuance.
It learned that Sunwoda Electronic was founded in 1997 in Shenzhen, and it is a global supplier of lithium-ion battery, 3C batteries, and electric vehicle batteries. Because raising capital inside the U.S. is becoming tougher, Chinese companies like Sunwoda are actively using the global market outside the United States to achieve the international strategy.