China’s EV battery king CATL files Hong Kong IPO plan to fund global expansion
BofA Securities, China International Capital Corp, China Securities International and JPMorgan Chase were listed as joint sponsors, while Goldman Sachs, Morgan Stanley and UBS will also have an unspecified role in the deal, according to the draft.
CATL’s yuan-denominated shares fell 2.6 per cent to 251.80 yuan in Shenzhen before the announcement, giving it a market value of 1.1 trillion yuan (US$150.5 billion). They have declined about 5 per cent this year, after a 68 per cent surge in 2024.
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‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the global market
‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the global market
“CATL has ambitions of expanding its worldwide footprint since it can chase higher profitability outside mainland China,” said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised batteries. “With production and technological advantages over their global rivals, Chinese EV players are often welcome in overseas markets to localise their research and manufacturing expertise.”
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