Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest battery manufacturer, is set to raise approximately $4.6 billion through its Hong Kong listing after pricing shares at HK$263 ($33.70) apiece, according to a Reuters report citing two people familiar with the matter.
The listing, slated to be the world’s largest in 2025 so far, will see CATL expand its offering to include an additional 17.7 million shares under an offer size adjustment option, bringing the total fundraising to about HK$35.66 billion ($4.57 billion). The company initially launched the offering on May 12, with subscription closing on May 15.
The HK$263 per-share pricing reflects a roughly 6% discount compared to CATL’s Tuesday closing price of RMB 258.77 on the Shenzhen Stock Exchange. Hong Kong listings often carry discounts to mainland prices to attract overseas investors, the report noted.
According to Tencent News, CATL’s listing has drawn strong demand from institutional investors, generating more than $50 billion in subscriptions as of May 14. Excluding around $2.6 billion committed by cornerstone investors, the offering was oversubscribed 30 times.
The surge in investor interest follows a recent de-escalation in U.S.-China trade tensions announced on May 12, which encouraged previously hesitant institutional players to participate in the IPO.
CATL’s Hong Kong shares will begin trading under the stock code 3750 on May 20.
