Sunwoda Electronic Co. Ltd. has become the seventh company to list Global Depository Receipts (GDRs) in the corresponding segment of the SIX Swiss Exchange, which is the Swiss stock exchange. In total, 28,759,000 GDRs were placed at an offer price of 15.30 US dollars per GDR, with a single GDR representing an interest in five A shares of the company. These are listed on the Shenzhen Stock Exchange. Sunwoda has raised gross proceeds totaling 440 million US dollars with its GDR offering.
As the SIX Swiss Exchange explains in a press release, Sunwoda operates in the global lithium-ion battery business. The company offers 3C batteries, electric vehicle batteries in addition to batteries for energy storage systems, among other products. Sunwoda boasts extensive expertise in the areas of research and development, design, manufacturing and sales. Moreover, it has developed a complete supply chain. Sunwoda was founded in 1997 and is headquartered in Shenzhen in southeastern China.