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

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓