Modern Amperex Know-how (CATL), the highest maker of batteries for electrical automobiles, has gained Hong Kong’s approval to proceed with a list within the metropolis which will fetch at the least US$5-billion, which stands out as the world’s largest such providing this yr.
The Ningde, China-based firm on Thursday secured approval from the Hong Kong inventory trade, a CATL spokesman stated, confirming an earlier IFR report. The itemizing might come as early as Could, in keeping with IFR.
The approval clears the way in which for the Chinese language firm and its bankers to begin arranging conferences quickly with traders to gauge demand for the inventory and decide particulars of the deal akin to pricing. Given its scale, the providing’s success will possible affect investor confidence in Hong Kong and Chinese language firms, which have suffered amid all of the market turmoil associated to tariffs.
At $5-billion, CATL’s float can be the world’s largest this yr. It could even be Hong Kong’s largest itemizing since Kuaishou Know-how’s IPO in 2021.
Second floats of China-listed corporations like that of CATL are among the many offers powering inventory choices in Hong Kong this yr. CATL’s shares had fallen 18% this yr in Shenzhen as of yesterday.
The approval comes weeks after China’s securities regulator cleared CATL’s plans for the Hong Kong itemizing.
In the meantime, CATL’s international enlargement is beneath rising risk as China-US tensions intensify. The corporate earlier this yr was added to a US defence division listing of corporations with alleged hyperlinks to the Chinese language army. Whereas inclusion doesn’t carry particular sanctions, US companies could possibly be discouraged from coping with the businesses on the listing. — Danny Lee and Dave Sebastian, (c) 2025 Reuters
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