(Bloomberg) -- Calb Co., a Chinese battery supplier for electric vehicle makers, is planning to seek Hong Kong stock exchange approval for its initial public offering in the city as soon as this week, according to people familiar with the matter.

The Jiangsu-based company could be scheduled for a listing hearing on Thursday, said the people, who asked not to be identified as the information is private. Calb could raise as much as $2 billion in the IPO if it fully exercises its over-allotment option, the people said.

Deliberations are ongoing and Calb’s listing hearing could still be delayed with IPO details subject to changes, the people said. An external representative for Calb didn’t immediately respond to requests for comment.

At $2 billion, Calb’s IPO could be the second-biggest in Hong Kong this year, behind China Tourism Group Duty Free Corp.’s $2.1 billion listing, according to data compiled by Bloomberg.

Established in 2007, Calb makes lithium batteries for electric vehicles and other products. It operates major production bases in China, including Changzhou, Xiamen and Wuhan, according to its website.

Calb filed for a Hong Kong IPO in March with Huatai International Ltd. as the sole sponsor on the deal.

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