The world’s largest battery maker for electronic vehicles, Contemporary Amperex Technology Co.Ltd.(CATL), has captured the interest of investors with its share sale of USD 5 billion, which is the biggest listing in years in Hong Kong.
According to Bloomberg, CATL launched its investor education meeting on Tuesday. The trading debut in Hong Kong may happen early this month. The company has gone ahead with its offering irrespective of the US Tariff in the global market. This share sale being made public can build the investor's confidence in Chinese companies, which had underperformed globally due to US tariff imposition.
This move from the battery manufacturing giant came after the withdrawal of JPMorgan Chase & Co. and Bank of America Corp from working on the planned listing. According to CATL’s post-listing documents, both banks are still working on the offering of listing. The Chinese Communist Party’s House Select Committee Chairman John Moolenaar stated, that the two bank’s chief executive officers have included the company’s listing on the Pentagon blacklist in January, citing alleged links with the Chinese military.
According to Bloomberg’s data, Hong Kong’s listing has risen to USD 2.7 billion this year. The USD 5 billion CATL listing would be the world’s largest listing since Kuaishou Technology’s USD 6.2 billion offering in 2021.
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