Battery maker Leoch plans $230 mln HK IPO -term sheet

HONG KONG Oct 27 (Reuters) - Battery maker Leoch International Technology Ltd plans to raise up to $229.6 million in an initial public offering in Hong Kong next week, according to a term sheet obtained by Reuters on Wednesday.

Leoch plans to sell 333.33 million new shares with an indicative price range of HK$3.75 to HK$5.35 each. The company said it was raising capital to expand production capacity in China's Anhui and Jiangsu provinces, to exapnd sales channels, and for the development of new products.

The issue will be priced on Nov. 8 and trading is expected to begin on Nov. 16. BOC International is the joint book runner and joint lead manager of the deal. (US$1=HK$7.76) (Reporting by Donny Kwok; Editing by Chris Lewis)