Chinese battery giant CATL has raised $4.6 billion in its Hong Kong listing, the largest listing globally so far for 2025.
Final pricing was set at HK$263 each, the maximum offer price, according to a term sheet seen by Reuters. That matched information from sources.
CATL did not immediately respond to a request for comment.
According to the term sheet, 125.4 million shares were sold to institutional investors and 10.16 million shares were sold to Hong Kong retail investors.
CATL’s deal size could increase to $5.3 billion if a so-called greenshoe option to sell a further 17.7 million shares is exercised.
If that goes ahead, CATL’s listing will eclipse Midea’s $4.6 billion listing last year and be the largest in Hong Kong since Kuaishou Technology raised $6.2 billion in a 2021 initial public offering.
The shares are due to start trading on Tuesday on the Hong Kong Stock Exchange.
Reuters
