US EditionShares in China's CATL, world's biggest EV battery maker, surge in Hong Kong
- Chinese EV battery maker CATL raised about $4.6 billion in its Hong Kong IPO debut on Tuesday, marking the largest global IPO this year.
- CATL's IPO followed strong investor demand despite U.S. trade tensions and a January Pentagon listing accusing ties to China's military, which the company denied.
- The company sold over 135 million shares at the maximum price of 263 HKD and saw shares rise 16.4% by close, trading as high as 311.4 HKD .
- In 2024, CATL controlled close to 38% of the global EV battery market and intends to allocate the majority of its IPO earnings toward constructing a $7.3 billion manufacturing facility in Hungary to serve leading European carmakers.
- The IPO's success signals continued global investor interest in Chinese clean energy firms despite geopolitical risks and could boost Hong Kong’s capital markets and offshore fundraising.
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CATL is a Chinese giant that few people know about but which is quickly taking control of the development of electric vehicles, writes HS's business journalist Esa Juntunen.
Lawmakers Call Out US Banks for Backing Blacklisted Chinese Battery Maker
Lawmakers with the House Select Committee on the Chinese Communist Party on May 20 criticized American banks for backing a blacklisted Chinese battery maker, suggesting legislation was needed to explicitly prohibit this. China’s Contemporary Amperex Technology Co. (CATL) went public on the Hong Kong stock exchange on May 20, and serving as joint sponsors were Chinese companies China International Capital Corporation and China Securities Interna…
HONG KONG, May 21, 2025 /PRNewswire/ -- CATL today announced its admission to listing on the Main Board of the Hong Kong Stock Exchange (HKEX) under stock code 3750. The total offering comprised 135 million…
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