CATL is the world's largest producer of electrical batteries and suppliers for such as Tesla and Ford.
Pavlo Gonchar SOPA paintings Lightrock | Getty images
Chinese contemporary Amperex (CATL) technology, the largest electric battery manufacturer in the world, has submitted to obtain an offer on the Hong Kong Stock ExchangeHe potentially makes him the greatest IPO for the city for five years.
The size and schedule of IPO and schedule have not been disclosed in the application. However, Reuters He informed that the contract was to raise at least $ 5 billion, citing sources familiar with this matter. This would mean the biggest IPO of Hong Kong from the Chinese rival Tiktok Kuaishou $ 5.32 billion of public offer At the beginning of 2021
In accordance with the application submitted by the company, Bank of AmericaChina International Capital Corporation, China Securities International I Jpmorgan chase If Common sponsors on the list.
It is expected that moving to the list in Hong Kong will attract global long -term institutional investors, some of which may be bound by politicians that do not allow them to buy shares of companies from continental China, said William Ma, investment director and founder Grow Grow Investment Group, Chinese managing company assets.
According to LSEG CATL data, it is also replaced on the SHENZHEN Stock Exchange, which is the market capitalization of 1.1 trillion yuan ($ 150.5 billion). The company provides batteries to large manufacturers, such as Tesla and Volkswagen.
“Time is perfect because global investors are starting to find trade in Chinese markets with attractive valuations,” said Ma.
He added that the auction will also help diversify the mixture of the campaign sector on the Hong Kong Stock Exchange, which largely includes Chinese internet companies and banks.
Hong Kong saw Receiving in classes from offers in 2024. According to Dealogic data, after three consecutive years of decline in terms of transaction value. Last year, Bourse collected $ 10.65 billion in 63 transactions, which is an increase of over 80% compared to $ 5.89 billion collected in 2023.
In January, the US Department of Defense CATL and TENCENT were included in the list of “Chinese military companies”, which would prevent the Department from ordering goods and services from these companies since June 2026. However, the impact of profit on this move is “negligible” because companies do not obtain significant revenues from DOP, Macquarie analysts in January gave analysts.
“We are proactively engaged with DOP to solve a false marking,” Catl said in his assembly. “We cannot guarantee that such attempts will be successful or that appropriate government agencies will not take any further action.”
According to information from the application in September, CATL supports 13 battery production bases around the world. The battery also mentioned that it is preparing its plants in Hungary, as well as other projects in Indonesia. His joint undertaking with the producer Stellantis To build EUR 4.1 billion (USD 4.2 billion) Iron liter phosphate battery In Spain also continues.
CATL revenues in the third quarter ended on September 30 fell by more than 12% compared to the same period in 2023. However, the company expects the net profit from the entire year in 2024 to increase from 11% to 20% compared to the year year, according to Submission of securities in January.
– – Anniek Bao from CNBC contributed to this report.