Chinese battery separator maker Horizon joins unicorn club after $195m deal

Chinese battery separator maker Horizon joins unicorn club after $195m deal

Visuals from the official website of Jiangsu Horizon New Energy Technology

Jiangsu Horizon New Energy Technology, a Chinese manufacturer of lithium-ion battery separators, has raised 1.37 billion yuan ($195.4 million) from 11 investors to boost its valuation to $1 billion.

The five-year-old company offered a combined 19.68% of its shares at a price of 3.98 yuan ($0.57) apiece to the consortium led by investors including China Development Fund, an investment platform backed by the country’s largest policy bank, the China Development Bank (CDB), according to a recent stock exchange filing.

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