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Why China’s cash-rich battery king needs a blockbuster share sale

Contemporary Amperex Technology Co Ltd plans a major share sale on the Hong Kong Exchange in May 2025, adding to its Shenzhen listing.
CATL's secondary listing follows a strong demand environment amid a tariff war and market uncertainties, with oversubscribed orders across investor types.
The company expects to raise about HK$35.7 billion, mainly to fund a battery factory in Hungary aimed at European automakers like BMW and Volkswagen.
Shares are set to price at HK$263, a discount of about 6-7.6% to Shenzhen's closing prices, with an option to increase sale size by 17.7 million shares.
This listing could become the largest globally in 2025 and suggests CATL's effort to secure capital for its global expansion amid competitive pressures.

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Die Presse

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$5.3 Billion Is the World's Largest IPO in 2025 –...

The Chinese battery company CATL is carrying out its second IPO in Hong Kong. In Europe and Germany, IPO business has been slow this year.

1 day ago·Vienna, Austria

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New York Post

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How JPMorgan, Bank of America are cashing in on China Inc. — despite pressure from US lawmakers

The CEOs of JPMorgan and Bank of America are resisting a demand by US lawmakers to withdraw from underwriting this week’s $4 billion IPO for a China-based Hong Kong electric car battery company that a key Congressional committee alleges has ties to Beijing’s military, On The Money has learned.

1 day ago·New York, United States

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Financial Times

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Why China’s cash-rich battery king needs a blockbuster share sale

CATL’s Hong Kong secondary listing set to raise $4.6bn and would be world’s biggest so far this year

3 days ago·London, United Kingdom

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South China Morning Post

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CATL set to price US$4.6 billion IPO at top end of range as Hong Kong investors pile in

World’s largest maker of electric-vehicle batteries could expand its IPO deal to as much as US$5.3 billion if several upsize options are exercised.

4 days ago·Hong Kong

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Bloomberg

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CATL Guides IPO Price at Top End in World's Biggest Listing of 2025

Contemporary Amperex Technology Co. Ltd. is poised to raise at least $4 billion in its Hong Kong share listing after planning to price it at the top end it had earlier indicated, according to people familiar with the matter, thanks to strong demand for the stock.

4 days ago·United States

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