ENVISION AESC EYES $2B HONG KONG IPO
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Envision AESC, a leading global lithium-ion battery manufacturer backed by GIC, is exploring a Hong Kong initial public offering that could raise up to $2 billion as early as this year.
■ MORE FROM THE BUSINESS DESK
Natural gas-fired power generation in the US has reached its highest cost in at least 17 years, according to analysis firm Lazard. Costs are expected to rise further as data center demand accelerates.
Italian cable manufacturer Prysmian is actively seeking M&A opportunities worth approximately €4 billion ($4.68 billion), CEO Massimo Battaini announced Tuesday. The move comes as hyperscaler infrastructure deals accelerate.
Africa-focused data-center operator Raxio Group is entering Tanzania as it raises its total funding to $380 million, according to CEO Robert Skjødt.
Documents show Uber has pushed for a phased transition to autonomous vehicles in at least two jurisdictions, a strategy that could advantage the ride-hailing giant over pure self-driving developers. Uber simultaneously argues that industry proposals on AVs fail to protect driver rights.