Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest producer of electric vehicle batteries, has opened investor orders for its Hong Kong listing, aiming to raise as much as $5.3 billion. 1 The deal is set to be the largest public offering globally this year and marks Hong Kong’s biggest IPO since 2021. The company is offering up to 156 million shares, including through a greenshoe option, with a maximum price of HK$263 per share.2
CATL’s decision to list in Hong Kong comes amid heightened trade tensions and regulatory barriers to US capital markets. Yet, despite these geopolitical headwinds, the offering has seen strong investor interest with Bloomberg reporting that the IPO books were effectively covered even before formal orders began.3
The IPO proceeds are earmarked for international expansion, particularly a massive 100GWh plant in Hungary to supply European automakers. The company already counts Tesla and Ford among its top customers and maintains a dominant 38% global market share in EV batteries.4
Beyond size and scale, the company is also a battery technology leader. At its recent Tech Day, the company introduced several next-generation battery innovations—including a Shenxing cell that delivers 520km of range from a five-minute charge, and a sodium-ion battery that functions in sub-zero conditions and offers safer, lower-cost energy storage.5 It also revealed a dual cell design capable of achieving 1,500km range, and teased early progress in eVTOL aviation battery systems.
As the world accelerates toward clean transportation and energy storage, CATL’s Hong Kong listing is a reminder that innovation is not confined to Silicon Valley. Rival countries, such as China, are no longer just manufacturing titans, but are also becoming innovative forces responsible for shaping the world’s future.
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