(April 28): Contemporary Amperex Technology Co Ltd has priced its US$5 billion ($6.4 billion) Hong Kong share placement at the bottom of the marketed range, according to terms of the deal seen by Bloomberg News.
The Chinese battery maker sold the shares at HK$628.20 (US$80.2) apiece, a 7% discount to the last closing price of HK$675.50, according to the terms. It offered the shares at HK$628.20 to HK$651.80 each. The deal marks the largest share offering yet this year in Hong Kong.
CATL, as the company is known, plans to use the proceeds for global capacity expansion, development of zero-carbon business footprint, research and development, working capital and other general corporate purposes.
The Ningde, China-based firm listed in Hong Kong less than a year ago in a US$5.3 billion deal that was the world’s second-largest last year. This time, CATL was selling the shares to global investors, including through a so-called 144A offering for investors in the US — which the firm didn’t pursue in its 2025 listing.
CATL’s offering adds to a busy period of deals in Hong Kong as tensions in the Middle East de-escalate. Propelled by surging demand for data centre energy storage and higher oil prices, CATL’s Hong Kong shares have soared 159% since their debut, giving the company a market capitalisation of US$294 billion.
Bank of America Corp, China International Capital Corp, JPMorgan Chase & Co and Morgan Stanley are joint bookrunners.
See also: China delays foreign debt sales with US$100 bil of bonds due
Uploaded by Magessan Varatharaja
