CATL-backed smart driving tech firm to kick off Hong Kong IPO this week: sources

NASN Intelligent Tech, a mainland Chinese Smart driving motion control technologies company, is seeking to kick off its Initial Public Offering (IPO) in Hong Kong as soon as Thursday, according to people familiar with the matter.The company, backed by battery giant Contemporary Amperex Technology Ltd (CATL), recently passed its listing hearing, signalling it could kick off its book building anytime. Debuts are scheduled for August 7, the sources said, requesting not to be identified as the information is not public.Founded in 2016, NASN completed multiple funding rounds before the IPO, with CATL and Hillhouse Investment each holding more than 3 per cent of shares. Other backers include Qiming Venture Partners and the China-capital" class="entity-link entity-organization" data-entity-id="172918" data-entity-type="organization">Bank of China Capital.