Chinese battery giant CATL.
Martin Schutt | picture alliance | Getty Images
Chinese battery giant CATL plans to launch its Hong Kong listing next month, two sources with direct knowledge of the matter said, in what is set to be the city’s largest share sale in four years.
The bookbuilding for the deal, or the process to invite bids for the equity offering from investors, is expected to start the week of May 12, the sources said who declined to be named discussing information that is not yet public.
Reuters has reported, citing people with knowledge of the matter, that the offering could raise at least $5 billion.
CATL did not immediately respond to a request for comment.
The size and timing of CATL’s bookbuilding could change, one of the sources added.
The battery giant’s listing would be the largest in Hong Kong since 2021 when Kuaishou Technology raised $6.2 billion in an initial public offering.
CATL has previously said in a regulatory filing that part of the funds raised will be used to build a 7.3 billion-euro ($7.53 billion) battery plant in Hungary.
