Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) on May 12 launched its public offering in Hong Kong.

According to the prospectus published on the official website of the Hong Kong Exchanges and Clearing Limited, the offering period will end on May 16, and the company is expected to be listed on the Hong Kong Stock Exchange on May 20.

According to the prospectus, the maximum offering price for CATL is 263 HK dollars (about 33.76 U.S. dollars) per share, with the stock code 3750. The expected number of shares for the initial global offering is 117,894,500.

In this offering, CATL will issue 8,842,100 shares in Hong Kong, while 109,052,400 shares will be offered internationally.

Edward Au, southern region managing partner at Deloitte China, estimated that the total fundraising will be at least 4 billion U.S. dollars, potentially making it the largest IPO in Hong Kong since the listing of video sharing app Kuaishou in 2021.

CATL is an innovative new energy technology company, primarily engaged in the research, development, production, and sales of EV batteries and energy storage system batteries. It had established six major R&D centers and 13 battery manufacturing bases worldwide, with service outlets spanning 64 countries and regions. (1 U.S. dollar equals 7.78 HK dollars)

(Cover image: Xinhua)