Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Investing.com -- Contemporary Amperex Technology (CATL), a Chinese battery giant, has submitted a preliminary prospectus to the Hong Kong Exchange for a secondary listing. The move is part of an effort to capitalize on the growing interest in the electric-vehicle market and to increase access to foreign capital.
The company has not disclosed how much it plans to raise or the number of shares it will offer. However, market analysts predict that this could potentially be the largest share offering in Hong Kong since Kuaishou Technology’s initial public offering of $5.4 billion in 2021. Kuaishou Technology is a competitor of ByteDance.
Currently, CATL is listed on the ChiNext board of the Shenzhen Stock Exchange, boasting a market capitalization of approximately $140.3 billion. The company had indicated in late 2021 that it was contemplating a Hong Kong listing as part of its global expansion strategy and to bolster its competitiveness.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.