CATL files for Hong Kong’s list, potentially bigger IPO since 2021

China’s Amperex Amperex technology, the world’s largest producer of electric vehicles in the world, has Presented for the list in the Hong Kong Stock ExchangePotentially, which makes it the largest opi for the city in five years.

The size and timeline of the opi and the timeline were not revealed in the presentation. However, Reuters He informed that the agreement is expected to collect at least $ 5 billion, citing familiar sources with the matter. That would mark the largest too of Hong Kong from the Chinese rival of Tiktok Kuahou’s $ 5.32 billion public offer In early 2021.

According to the presentation by the company, the Bank of AmericaChina International Capital Corporation, China Securities International and JPMorgan Chase are Set sponsors for the list.

The move to the list in Hong Kong is expected to attract global long -term institutional investors, some of which may be bound by policies that prevent them from buying shares of companies based in Continental China, said William Ma, investment director and Founder of Grow. Investment Group, an asset management company based in China.

Catl also appears in the Shenzhen Stock Exchange, with a market capitalization of 1.1 billion yuan ($ 150.5 billion), according to LSE data. The company supplies batteries to large car manufacturers such as Tesla and Volkswagen.

“The moment is ideal as global investors are beginning to find China markets by merchanting with attractive assessments,” Ma to CNBC told CNBC.

The list will also help diversify the combination of the sector of actions that are quoted in Hong Kong, which largely comprise Chinese Internet companies and banks, he added.

Hong Kong saw a Collection in listing activities in 2024 After three consecutive years of decrease in terms of agency values, according to Dealogic data. The base of the city raised $ 10.65 billion in 63 agreements last year, a jump of more than 80% of the $ 5.89 billion raised in 2023.

In January, the United States Department of Defense He included Catl and Tencent in his list of “Chinese military companies”, which would prevent the department from obtaining goods and services from those companies from June 2026. However, the impact of measure profits is “insignificant” because companies do not obtain significant income from the DOD, Macquarie analysts said in January.

“We are proactively committing to DOD to address the false designation,” Catl said in his presentation. “We cannot guarantee that such attempts to succeed or that the relevant government agencies do not take more actions.”

As of September, Catl operates 13 battery manufacturing bases worldwide, according to presentation information. The battery manufacturer also mentioned that it is in the preparation of its plants in Hungary, as well as in other projects in Indonesia. Your joint company with automobile manufacturer Stellantis To build 4.1 billion euros ($ 4.2 billion) Lithium iron phosphate battery plant In Spain it is also underway.

Catl’s income for the third quarter that ended on September 30 decreased more than 12% compared to the same period in 2023. However, the company expects its net gain of 2024 Net year total to increase between 11% and 20% for a year, according to a Presentation of values ​​in January.

– Anniek Bao of CNBC contributed to this report.