EV Battery Maker CATL Targets Hong Kong IPO, Poised to Become City’s Largest Listing With Strong Global Backing

Benzinga

Chinese battery maker CATL aims to raise at least $3.99 billion in its Hong Kong listing, marking the largest new share sale in the city this year, according to Reuters. The deal could grow to $5.3 billion if the offer size adjustment and greenshoe options are exercised. Over 20 cornerstone investors, including Sinopec and the Kuwait Investment Authority, have committed to purchasing approximately \$2.62 billion in CATL shares. CATL licenses its battery technology to U.S. clients like Ford and Tesla to support local battery plant construction, a strategy that has drawn criticism from U.S. politicians.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Chinese battery maker CATL aims to raise at least $4 billion in its Hong Kong listing,

00:07marketing the largest new share sale in the city this year.

00:10According to Reuters, the deal could grow up to $5.3 billion

00:13if the offer size adjustment and green short options are exercised.

00:18Over 20 cornerstone investors, including Sinopec and the Kuwait Investment Authority,

00:22have committed to purchasing approximately $2.62 billion in CATL shares.

00:27CLT licensed its battery technology to U.S. clients like Ford and Tesla

00:30to support local battery plant construction,

00:33a strategy that has drawn criticism from U.S. politicians.

00:37For all things money, visit Benzinga.com slash GSTV.

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