EV battery giant CATL aims to raise $5.2b in HK listing

Chinese EV battery giant CATL aims to raise US$4 billion (S$5.2 billion) in its Hong Kong listing scheduled for May 20, said a statement filed to the bourse on May 12, making it the largest initial public offering (IPO) expected in the city so far in 2025.

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HONG KONG —

A global leader in the sector, Contemporary Amperex Technology — commonly known as CATL — produces more than a third of all electric vehicle (EV) batteries sold worldwide, working with major brands including Tesla, Mercedes-Benz, BMW, and Volkswagen.

The company is already listed in Shenzhen, and its plan for a secondary listing in Hong Kong was announced in a filing in December with the stock exchange.

According to a prospectus filed on May 12, CATL will offer approximately 117.9 million units priced at up to HK$263 a share for total expected proceeds of HK$31.01 billion (S$5.2 billion).

Founded in 2011 in the eastern Chinese city of Ningde, CATL was initially propelled to success by rapid growth in the domestic market.

But the world’s largest EV market has more recently begun to show signs of flagging sales amid a broader slowdown in consumption.