China’s CATL poised to pick banks for US$5 billion Hong Kong share sale
Contemporary Amperex Technology Limited (CATL) plans to hire major banks for a second listing in Hong Kong, aiming to raise at least US$5 billion. The company, a leading manufacturer of electric vehicle batteries, is in discussions with Bank of America, China International Capital Corporation (CICC), CSC Financial, and JPMorgan Chase to serve as lead arrangers for this significant offering.
This potential listing follows the board's approval in December, pending shareholder and regulatory consent. While the exact details regarding the offering size and timeline are still being finalized, CATL's move is seen as a strategy to bolster its market position amid a challenging year, where its shares have already fallen by 7.2%, resulting in a market value of approximately US$150 billion. Additionally, CATL has faced scrutiny after being blacklisted by the US for alleged military ties, which the company has denied.
via SCMP Full Text Feed
Contemporary Amperex Technology Limited (CATL) plans to hire major banks for a second listing in Hong Kong, aiming to raise at least US$5 billion. The company, a leading manufacturer of electric vehicle batteries, is in discussions with Bank of America, China International Capital Corporation (CICC), CSC Financial, and JPMorgan Chase to serve as lead arrangers for this significant offering.
This potential listing follows the board's approval in December, pending shareholder and regulatory consent. While the exact details regarding the offering size and timeline are still being finalized, CATL's move is seen as a strategy to bolster its market position amid a challenging year, where its shares have already fallen by 7.2%, resulting in a market value of approximately US$150 billion. Additionally, CATL has faced scrutiny after being blacklisted by the US for alleged military ties, which the company has denied.
via SCMP Full Text Feed
