China’s Contemporary Amperex Technology (CATL), the world’s largest producer of batteries for electric vehicles and a supplier for Tesla, has applied for a listing in Hong Kong, aiming for one of the city’s largest stock offerings in recent years. The battery giant is looking to raise at least $5 billion, which would mark its second listing after a successful IPO on China’s Shenzhen exchange in 2022.
CATL, headquartered in Ningde, Fujian, and a key supplier to major automakers such as BMW, Volkswagen, and Ford, announced its intention to list on the Hong Kong Stock Exchange in December. The company plans to utilize a portion of the funds raised to expand its global presence, including the construction of a new plant in Hungary.
