CATL lists in Hong Kong, raising about $4.6B

CATL

CATL, the world's largest battery maker, debuted on the Hong Kong Stock Exchange on 20 May, raising HK$35.7 billion ($4.6 billion) with shares surging 16% on the first day. The company said 90% of proceeds will fund its battery factory in Hungary to supply European automakers including Stellantis, BMW and Volkswagen.

• Raised $4.6B (HK$35.7B) on Hong Kong listing; shares up 16% on debut.
• Largest global IPO of 2025 at the time; institutional demand oversubscribed 14x.
• 90% of proceeds earmarked for Hungary battery factory serving European carmakers.
• Joint lead managers: Bank of America, CICC, Goldman Sachs, Morgan Stanley, JPMorgan.