CATL, the world’s largest EV battery maker, benefited from investors’ faith in the EV boom, and raised 35.51 billion Hong Kong dollars ($4.54 billion) from its secondary listing.
(The company is already listed on the Shenzhen Stock Exchange in mainland China.)
The second-biggest IPO this year was the $3 billion IPO in March by Japan’s JX Advanced Metals, according to the data provider.
The company, which is a supplier of EV batteries to companies like Tesla (TSLA), had sold 135 million shares at 263 Hong Kong dollars ($33.60) each ahead of its secondary listing.
“2 It said the bulk of the IPO proceeds would go toward funding its plant in Hungary.
Modern Amperex Technology Co. shares. , or CATL, surged more than 16 percent in their Hong Kong trading debut Tuesday following the world’s largest listing of the year, which saw the Chinese electric vehicle battery manufacturer raise more than $4.05 billion. 1. .
Despite recent reductions, the listing occurs as Chinese businesses are still dealing with the consequences of the tariffs imposed by the Trump administration.
Thanks to investors’ confidence in the EV boom, CATL, the biggest EV battery manufacturer in the world, raised $35 billion Hong Kong dollars ($4 billion) through its secondary listing. In mainland China, the business is already listed on the Shenzhen Stock Exchange. ().
According to Dealogic data, CATL’s listing is the biggest in the world this year, surpassing both the $1.57 billion raised by Nvidia-backed (NVDA) AI cloud provider CoreWeave (CRWV) and the $1.75 billion raised by LNG exporter Venture Global (VG) from its January IPO. According to the data provider, Japan’s JX Advanced Metals’ $3 billion IPO in March was the second-largest IPO of the year.
Ahead of its secondary listing, the company, which supplies EV batteries to businesses like Tesla (TSLA), sold 135 million shares at a price of 263 Hong Kong dollars ($33.60) each. The closing price of shares was HK$306.20 on Tuesday.
According to CATL’s prospectus, by the end of the previous year, its “EV batteries were installed in over 17 million vehicles, which represents one in every three EVs worldwide.”. 2 It stated that the majority of the IPO’s proceeds would be used to finance its Hungarian plant.
