Chinese Battery Giant CATL to Seek $5 Billion in Hong Kong Listing
Sydney, Australia: CATL, the leading global battery manufacturer, is preparing to submit a listing application to the Hong Kong Stock Exchange this week, aiming to raise a minimum of $5 billion. Sources with direct knowledge of the matter, who requested anonymity, disclosed that the filing could occur as early as Tuesday or Wednesday.
CATL has yet to provide an official response to Reuters' request for comment. The Shenzhen-headquartered company, which is already listed on the Shenzhen Stock Exchange, is expected to make one of the largest Hong Kong listings in the past three years.
The city's equity capital markets have faced challenges in recent years due to delays in regulatory approvals and global market volatility. CATL's planned offshore listing coincides with heightened geopolitical tensions, following the U.S. designation of CATL and other Chinese tech companies as potential military contractors in January.
Furthermore, CATL's Hong Kong listing aligns with the city's growing appeal as a destination for secondary listings among Chinese A-share companies seeking access to overseas capital.