Contemporary Amperex Technology Co. Ltd. (CATL) plans to raise up to $4 billion through a global offering of H-shares in its upcoming listing on the Hong Kong Stock Exchange, according to an updated prospectus released on Sunday.
The Chinese electric vehicle (EV) battery maker will offer 118 million H-shares between May 12 and May 15, priced at no more than HK$263 each. The shares are scheduled to begin trading on May 20 at 9 a.m. local time, with lots of 100 shares. At the top end of the pricing range, the company could raise as much as HK$31 billion ($3.99 billion).
See also: CATL Unveils Tener Stack, World’s First 9 MWh Production-Ready Energy Storage System
The offer price represents a 1.43% discount to CATL’s closing A-share price of RMB 248.27 on Friday, with the equivalent Hong Kong price estimated at RMB 244.72. Of the offering, 7.5% will be allocated to the Hong Kong public and 92.5% to international investors.
If the offer size adjustment and over-allotment options are not exercised, CATL expects to raise approximately HK$30.7 billion in net proceeds. Of that, around 90% will go toward the construction of the first two phases of its Hungary battery plant, while the remaining 10% will be allocated to general corporate and working capital purposes.
See also: CATL Seeks $1 Billion Loan for Battery Investment in Indonesia
CATL remains the world’s largest EV battery manufacturer, holding a 38.3% global market share in the first quarter of 2025, according to SNE Research. The company operates 13 battery production facilities, six R&D centers, and maintains a presence in 64 countries and regions.
It has achieved mass production of lithium-ion batteries at its German facility in Thuringia and is advancing development on a new plant in Hungary. In December, CATL announced a $4.26 billion joint venture with Stellantis to build an LFP battery plant in Spain.
See also: CATL Reports 33% Rise in Q1 Net Income, Gross Margins Improve
In 2024, CATL’s EV battery installed capacity reached 246.01 GWh, a 47.2% increase from the previous year. The company reported a net income of RMB 50.75 billion in 2024, up 15% year-on-year, while revenue fell 9.7% to RMB 362.01 billion.
