Staff Reporter
Chinese battery powerhouse Contemporary Amperex Technology Co (SZ:300750), commonly known as CATL, is gearing up to file for a Hong Kong initial public offering (IPO) this week, aiming to raise at least $5 billion. Sources familiar with the situation informed Reuters on Tuesday.
The listing application could be submitted as soon as Tuesday or Wednesday, although CATL has yet to issue a public statement regarding the matter.
This move could represent one of the largest public offerings in Hong Kong in the past three years, a time marked by regulatory slowdowns in China and global financial uncertainty that has impacted the city’s equity markets.
CATL is recognized as one of the largest battery suppliers for Tesla Inc (NASDAQ:TSLA), further solidifying its role in the electric vehicle market.
Already listed in Shenzhen, CATL’s strategic shift to the Hong Kong market is aimed at tapping into overseas liquidity, according to the Reuters report.
Bloomberg News previously reported in December 2024 that CATL was seeking to raise at least $5 billion through a Hong Kong listing, underscoring its ambitious plans for expansion and growth in the global market.
