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Investing.com-- Chinese battery giant Contemporary Amperex Technology Co (SZ:300750) (CATL) is preparing to file for a Hong Kong listing this week, aiming to raise at least $5 billion, Reuters reported on Tuesday citing sources familiar with the matter.
The listing application could be submitted as early as Tuesday or Wednesday, though CATL has not yet commented on the matter, the report stated.
According to the report, this move would mark one of the largest public offerings in Hong Kong in the past three years, a period during which the city’s equity markets have struggled due to regulatory slowdowns in China and global financial volatility.
CATL is one of Tesla Inc’s (NASDAQ:TSLA) biggest battery suppliers.
Shenzhen-listed CATL shares were trading 2.7% lower as of 03:44 GMT.
The listing also comes at a time of heightened geopolitical tensions, with the U.S. recently adding CATL and other Chinese tech firms to a list of companies allegedly linked to China’s military, the report noted.
CATL, already listed in Shenzhen, is positioning itself to benefit from overseas liquidity through this offshore market move, according to the Reuters report.
Bloomberg News had also reported in December 2024 that CATL was looking to raise at least $5 billion via a Hong Kong listing.