A major shareholder of Contemporary Amperage Technology Co. Ltd. has completed a block trade of 58 million A shares, representing 1.27 percent of the company's total share capital, in a deal worth about 23.8 billion yuan, according to a regulatory filing.
The transfer price was set at 410.34 yuan per share based on book-building results on April 20, representing a 5.1 percent discount to CATL's closing price on the same day. The shares will be transferred to 30 institutional investors, who are restricted from selling the shares for six months.
Ningbo Lianhe Chuangxin New Energy Investment Management Partnership received bids from 50 institutional investors, with total valid subscriptions of about 121 million shares, representing an oversubscription of about 1.1 times.
The transaction does not involve change of control and will not affect CATL's corporate governance or ongoing operations, the company said.
