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.
