China's CATL to file for at least $5 billion Hong Kong listing this week, sources say (updated)

Kuaishou Technology

11/02/2025 03:34

(Updates deal milestone in paragraph 4, adds market
capitalisation, share price in paragraph 8)
    By Scott Murdoch
       SYDNEY, Feb 11 (Reuters) - Chinese battery giant CATL
 300750.SZ  plans to file a Hong Kong listing application this
week to raise at least $5 billion, according to two sources with
direct knowledge of the matter.
    The filing could come on Tuesday or Wednesday, added the
sources, who could not be identified discussing confidential
information.
    CATL did not immediately respond to a request for comment
from Reuters.
        A listing of the Shenzhen-listed firm, the largest
battery maker in the world, would be the largest listing in Hong
Kong in four years, according to Dealogic data. At $5 billion,
it would be the biggest listing since Kuaishou Technology's
 1024.HK  2021 initial public offering that raised $6.2 billion,
the data showed.
        The city's equity capital markets have languished in the
past three years as a result of Chinese regulators slowing down
the approval process and volatile global financial markets.
    CATL's planned float in the Chinese offshore market comes
amid rising geopolitical tensions as the U.S. in January added
Chinese tech companies including CATL and Tencent Holdings
 0700.HK  to a list of firms it says work with China's military.
    CATL's Hong Kong listing plan also comes as the city sees 
increased interest for second listings from Chinese A-share
companies, which are seeking to tap into overseas liquidity.
        CATL has a market capitalisation of 1.4 trillion yuan 
($191.56 billion) and its Shenzhen shares are trading about 61%
higher over the past year.
  
    
($1 = 7.3085 Chinese yuan renminbi)

 (Reporting by Scott Murdoch, additional reporting Brenda Goh in
Shanghai; Editing by Sonali Paul, Kim Coghill and Kate Mayberry)
 ((Scott.Murdoch@thomsonreuters.com;))