Chinese battery manufacturing leader, Contemporary Amperex Technology Co. Ltd. (CATL), is preparing to file an application for a Hong Kong listing this week, aiming to raise at least $5 billion, according to sources familiar with the matter.
The application is expected to be submitted as early as Tuesday or Wednesday, the sources revealed, though they requested anonymity due to the confidential nature of the information. CATL has not yet responded’ request for comment.
Should the listing go ahead, it would mark one of the largest in Hong Kong in the past three years, a period during which the city’s equity capital markets have faced challenges. These difficulties have been fueled by a slowdown in Chinese regulatory approvals and fluctuating global financial markets.
The move comes at a time of heightened geopolitical tensions, particularly after the U.S. placed Chinese tech giants, including CATL and Tencent, on a list of companies accused of having links to China’s military.
Furthermore, CATL’s IPO is part of a broader trend as Chinese A-share companies increasingly seek second listings in Hong Kong to access international capital markets and enhance liquidity.
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