CATL Eyes Hong Kong Listing in 2025
Battery Giant Takes Aim at Billions
Chinese battery behemoth CATL has enlisted the expertise of top banks, including JPMorgan and Bank of America, to spearhead a Hong Kong listing, potentially one of the city’s largest offerings in 2025. According to insiders, China International Capital Corp (CICC) and China Securities Co. (CSC) have also been tapped to work on the float.
Market Cap of $150 Billion
With a market capitalization of $150 billion, CATL’s potential Hong Kong listing is expected to be a massive undertaking, with sources hinting at a multibillion-dollar offering. The company has yet to confirm the exact figure, but its market value provides a clear indication of the listing’s potential scale.
Targeting First Half of 2025
CATL is aiming to complete the float in the first half of 2025, according to sources familiar with the deal. This move comes amid rising geopolitical tensions, with the U.S. recently adding Chinese tech companies, including CATL and Tencent Holdings, to a list of firms allegedly working with China’s military.
Hong Kong Sees Surge in New Offerings
The planned listing in the Chinese offshore market coincides with a surge in new offerings in Hong Kong, driven by increasing interest from A-share companies seeking to tap into overseas liquidity. In recent weeks, the city has witnessed a flurry of activity, with exchange officials discussing ways to fast-track second listings from Chinese companies.
Previous Listing Plans Scrapped
This is not CATL’s first foray into international listings. In 2023, the company planned to raise at least $5 billion in Swiss global depository receipts (GDR), but the plan was ultimately scrapped due to concerns from Beijing regulators over the large scale of the offering.
A New Chapter for CATL
As CATL prepares to take the next step in its growth journey, the company’s Hong Kong listing is poised to be a significant event in the financial calendar. With its sights set on the first half of 2025, CATL is gearing up to make a major impact on the global market.
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