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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