Chinese battery maker CATL launches US$5 billion Hong Kong share offering, term sheet shows

Contemporary Amperex Technology (3750), or CATL, has launched an accelerated bookbuild to raise about US$5 billion (HK$39.2 billion) through a primary H-share offering in Hong Kong, according to a term sheet seen by Reuters on Monday.

The Chinese electric vehicle battery giant is offering new H shares at HK$628.20 to HK$651.80 each, representing a discount of 3.5 percent to 7 percent to its last closing price of HK$675.5.

Proceeds will be used for global capacity expansion, development of the company’s zero-carbon business footprint, research and development and general working capital.

CATL, the world’s largest battery manufacturer, did not respond immediately to an emailed request for comment.

Reuters

 

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