From Yahoo Finance: 2025-03-25 13:09:00

Contemporary Amperex Technology Co. Ltd. has received approval from China to proceed with a potential share sale in Hong Kong. The company, known as the world’s top electric-vehicle battery maker, could raise at least $5 billion by issuing around 220 million shares. This adds to Hong Kong’s recent trend of large share sales, with over $15 billion raised so far this year compared to $18.6 billion in 2024.

China’s securities regulator has required Chinese firms seeking to sell shares abroad to receive approval since early 2023. CATL, already trading in Shenzhen, is now able to move forward with its second listing pending approvals from Hong Kong’s Securities and Futures Commission and the stock exchange. The Hang Seng Index has seen a resurgence, leading companies to take advantage of the rally by raising funds through stock offerings.

CATL’s listing comes amidst rising geopolitical tensions that could impact the battery maker’s global expansion. The company was recently added to a US Defense Department list of firms with alleged links to the Chinese military, potentially discouraging US businesses from dealing with listed companies. Despite this, CATL’s shares in Shenzhen have fallen 2.5% this year, with a market value exceeding $157 billion.



Read more at Yahoo Finance: CATL Gets China’s Sign-Off to Proceed With Hong Kong Share Sale