EV Battery Maker CATL Targets Hong Kong IPO, Poised to Become City’s Largest Listing With Strong Global Backing

EV Battery Maker CATL Targets Hong Kong IPO, Poised to Become City’s Largest Listing With Strong Global Backing

Chinese battery maker CATL aims to raise at least $3.99 billion in its Hong Kong listing, marking the largest new share sale in the city this year, according to Reuters. The deal could grow to $5.3 billion if the offer size adjustment and greenshoe options are exercised. Over 20 cornerstone investors, including Sinopec and the Kuwait Investment Authority, have committed to purchasing approximately \$2.62 billion in CATL shares. CATL licenses its battery technology to U.S. clients like Ford and Tesla to support local battery plant construction, a strategy that has drawn criticism from U.S. politicians.


User: Benzinga

Views: 463

Uploaded: 2025-05-12

Duration: 00:42

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