From ESS News
CATL, the world’s leading battery manufacturer and a significant supplier of batteries to the stationary energy storage industry, has launched a long-awaited IPO in Hong Kong.
The listing, first announced in February, aims to raise between $4 billion and $5.3 billion, with proceeds primarily designated to accelerate its global expansion, including in Europe. It could become the largest new listing for the Hong Kong stock market in four years, since Kuaishou Technology’s $6.2 billion IPO.
CATL’s secondary listing in Hong Kong follows its Shenzhen A-share listing and provides more direct access to a broader international investor base and deeper global capital pools than its domestic shares. The move enables foreign currency fundraising, key to financing its overseas expansion, including a large battery manufacturing plant in Debrecen, Hungary, and other international projects.
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