HONG KONG—Chinese EV battery giant CATL aims to raise $4 billion in its Hong Kong listing scheduled for May 20, said a statement filed to the bourse Monday, making it the largest IPO expected in the city so far this year.
A global leader in the sector, 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 December filing with the stock exchange.
According to a prospectus filed Monday, CATL will offer approximately 117.9 million units priced at up to HK$263 per share ($33.8) for total expected proceeds of HK$31.01 billion.
The listing is set to take place next Tuesday (May 20).
Cornerstone investors, including Sinopec and Kuwait Investment Authority, agreed to buy shares worth HK$2.62 billion, the prospectus shows. AFP
