CATL sales space is seen throughout the twenty first Shanghai Worldwide Car Business Exhibition (Auto Shanghai 2025) on the Nationwide Exhibition and Conference Heart (Shanghai) on April 26, 2025 in Shanghai, China.
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Potential buyers in Chinese language battery large CATL’s Hong Kong itemizing to lift about $5 billion have been advised the inventory could also be bought at a reduction of lower than 10% to the corporate’s Shenzhen-listed shares, in keeping with three sources with direct information of the matter.
The low cost supplied could possibly be round mid-single digits, two of the sources added.
CATL is assembly buyers forward of launching the ebook constructing for the deal subsequent week that could possibly be the most important new share sale in Hong Kong for 4 years.
Traders are pushing CATL to cost the Hong Kong shares at the least a ten% low cost to the Shenzhen-traded inventory, one of many sources and a fourth particular person advised Reuters.
The pricing has not been finalized, the sources stated.
CATL desires to have cornerstone and anchor buyers subscribe for round half the shares to be bought within the deal, two of the sources added.
The sources couldn’t be named discussing data that has not but been made public.
CATL didn’t instantly reply to a request for remark from Reuters.
CATL shares have been buying and selling 2.33% greater on Wednesday at 237.08 yuan. Nevertheless, the inventory has fallen almost 11% this 12 months. China’s CSI300 index was up almost 0.5%.
Hong Kong shares sometimes commerce at a reduction in comparison with mainland shares. Traders are often supplied inventory at a less expensive value in offshore listings like this as an incentive to purchase into the share providing.
Midea Group priced its Hong Kong shares at a couple of 20% low cost when it raised $4 billion in an inventory in September final 12 months.
The battery large’s itemizing can be the most important in Hong Kong since 2021, when Kuaishou Know-how raised $6.2 billion in an preliminary public providing.
CATL has beforehand stated in a regulatory submitting that a part of the funds raised will probably be used to construct a 7.3 billion-euro ($8.28 billion) battery plant in Hungary.
