Recently, Contemporary Amperex Technology Co., Ltd. (CATL), a leading Chinese electric vehicle battery manufacturer, announced that it has received notification from the China Securities Regulatory Commission (CSRC) for its overseas listing. This approval allows CATL to issue up to 220,169,700 ordinary shares and list on the Hong Kong Stock Exchange (HKEX). The entire process took just 25 days, setting a record for swift approvals in recent years.
Experts view this milestone as a positive sign for CATL's progress toward becoming a global leader with both A-share and H-share listings. In April 2024, the CSRC announced support for top domestic companies to list in Hong Kong, reinforcing policy backing for A-share firms. CATL's quick approval highlights regulatory support for its globalization strategy.
The company aims to raise at least 39 billion through this fundraising effort, potentially making it one of the largest projects in Hong Kong's recent history. Proceeds will focus on overseas capacity expansion, international business development, and enhancing working capital.
With a growing presence in Europe, including an operational factory in Germany and projects in Hungary and Indonesia, analysts believe this IPO will further strengthen CATL's leadership in the global new energy market. According to SNE data, CATL has ranked first globally in power battery usage for eight consecutive years, holding a 37.9% market share in 2024. In the energy storage sector, its shipments have also led globally for four years, with a market share of 36.5%.
Related News:
Baidu, CATL forge partnership on digital intelligence, autonomous driving
Comment