Catl is the world’s largest electric vehicle manufacturer and supplier like Tesla and Ford.
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Chinese Contemporary AMPEREX TECHNOLOGY (CATL), the largest producer of batteries of electric vehicles in the world, has Submitted for a Hong Kong Stock Exchange Listwhich potentially makes it the largest iPo for the city in five years.
The size and time strip of IPO and the weather straps were not revealed in the tolerance. However, Reuters They reported that an agreement is expected to raise at least $ 5 billion, citing sources familiar with the issue. This would indicate the largest iPo Hong Kong from the Chinese rival Tiktoc Kuaishouv 5.32 billion dollars of public offers At the beginning of 2021.
According to the company’s application, Bank of AmericaChina International Capital Corporation, China Securities International and Jpmorgan chase are Common sponsors for a list.
The move on the Hong Kong list is expected to attract global long-term institutional investors, some of which could be bound by policies that make them impossible to buy shares of companies based in continental China, said William Ma, CEO of investment and Grow founder Investment Group, Chinese property management company.
Catl is also listed on Shenzhen Stock Exchange, which boasts a market cap of 1.1 trillion Juan ($ 150.5 billion), according to LSEG data. The company delivers batteries to large car manufacturers like Tesla and Volkswagen.
“Time is ideal because global investors begin to find Chinese markets that trade in attractive estimates,” MA told CNBC.
The list will also help diversify the sector sector of the shares mixture on the Hong Kong list, which largely make up Chinese Internet companies and banks, he added.
Hong Kong saw Download in the 2024 activity list After three consecutive years, it falls in terms of the value of the job, according to the Dealgic data. Last year, the City Stock Exchange raised $ 10.65 billion at $ 63, a jump greater than $ 80% with $ 5.89 billion collected in 2023.
In January, the US Ministry of Defense Included Catl and Tencent on his list of “Chinese military companies”, What would prevent the department from obtaining goods and services from those companies starting June 2026, however, the impact on the profit of this move is “negligible”, because companies do not generate significant revenues from the DOD, Macquarie’s analysts in January said.
“We are proactively dealing with DOD to solve a false mark,” Catl said in his submission. “We cannot guarantee that such attempts will be successful or that the relevant government agencies will not take any further actions.”
Since September, Catl manages 13 batteries production bases around the world, according to information from submission of application. The battery manufacturer also mentioned that in the preparation of its plants in Hungary, as well as other projects in Indonesia. His shared investment with a car manufacturer Stellantis For the construction of 4.1 billion euros ($ 4.2 billion) Litno Fosphate Battery Plain In Spain it is also ongoing.
CATL’s revenue for the third quarter ended on September 30th decreased over 12% compared to the same period 2023. However, the company expects its complete net profit of 2024 to increase between 11% and 20% compared to a year ago, according to a Submission of securities in January.
– Anniek Bao CNBC contributed to this report.
