Taiwanese EV battery maker Prologium eyeing US IPO later this year

By Val Kennedy,

 

 

Taiwanese EV battery-maker ProLogium, which is backed by Mercedes-Benz, is reportedly considering an initial public offering in either the US or Europe as early as this year.

The company is debating whether to hold the IPO in 2022 or 2023. It may also conduct another fundraising round before going public, Prologium Chief Executive Officer Vincent Yang told Bloomberg in an interview.

“We have a very clear plan to go public. We have a clear milestone and goal, and how much money we need to raise,” Yang said.

The company plans to complete its first solid-state lithium battery production line by the end of 2022 and may hold a pre-IPO funding round to help fund expansion. The company raised $326M in a funding round last year that included Primavera Capital Group and SoftBank China Venture Capital, and may seek to raise more than that amount in a pre-IPO round, Yang added.

ProLogium announced a partnership with Mercedes-Benz (OTCPK:DMLRY) in January to develop EV batteries. The automaker also took a seat on ProLogium’s board.

Source : https://seekingalpha.com/news/3817757-taiwan-ev-battery-maker-prologium-eyeing-us-ipo-later-this-year

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