Contemporary Amperex Technology Co. Ltd. (CATL) has started taking investor orders for a Hong Kong stock offering that is likely to be the world¡¯s biggest listing this year.
CATL, as the Chinese electric vehicle battery giant is known, is seeking to raise as much as HK$41 billion ($5.3 billion), according to its listing document on Monday. That¡¯s if the deal is upsized and the greenshoe exercised on top of the base offering of up to HK$31 billion.
The Fujian-based company is marketing shares at a maximum price of HK$263 each, or 1.4% lower than Friday¡¯s close in Shenzhen but roughly equivalent to Thursday¡¯s. Pricing could be decided as soon as Tuesday and the stock is expected to begin trading May 20.
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