CATL seeks US$5 billion in Hong Kong’s largest share sale of 2026
The Chinese battery maker is offering shares at HK$628.20 to HK$651.80 each
Add BT as a preferred source
CONTEMPORARY Amperex Technology Co Ltd (CATL) is seeking to raise about US$5 billion from a Hong Kong share placement, terms of the deal seen by Bloomberg News showed.
This will be the city’s largest offering yet this year.
The Chinese battery maker is offering shares at HK$628.20 to HK$651.80 each, the terms showed, representing a discount of 3.5 to 7 per cent to Monday’s (Apr 27) closing price in Hong Kong.
Investors submitted orders for all shares for sale within about an hour of the deal launching, said people familiar with the matter, who asked not to be identified because the information is confidential.
A representative for CATL did not immediately respond to a request seeking comment outside normal business hours.
CATL plans to use the proceeds for global capacity expansion, development of a zero-carbon business footprint, R&D, working capital and other general corporate purposes.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The Ningde, China-based company listed in Hong Kong less than a year ago in a US$5.3 billion deal that was the world’s second-largest last year.
This time, CATL is selling the shares to global investors, including through a so-called 144A offering for investors in the US, which the firm did not pursue in its 2025 listing.
CATL’s Hong Kong shares have soared almost 157 per cent since their debut, giving the company a market capitalisation of US$294 billion.
CATL’s offering adds to a busy period of deals in Hong Kong, where equity deals have been booming. Also on Monday, aluminium producer China Hongqiao Group sought to raise US$1.5 billion from the sale of bonds that can be converted into stock, in a sign that big deals are forging ahead as tensions ease in the Middle East.
CATL will be subject to a lock-up of 90 days. Bank of America, China International Capital, JPMorgan Chase and Morgan Stanley are arranging the deal. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
From intern to C-suite: JPMorgan’s Teresa Heitsenrether on building a fully AI-powered ‘megabank’
Malaysia’s 8th richest man Jeffrey Cheah wants Sunway business to last 10 generations
Keppel begins arbitration against partners in Vietnam JV hit by 6.9 trillion dong bill
