CATL Set to Appoint Banks for $5 Billion Hong Kong Share Sale
TMTPOST -- Contemporary Amperex Technology Co. Ltd. (CATL), the world's leading electric vehicle battery manufacturer, is preparing to appoint Bank of America Corp., China International Capital Corp., CSC Financial Co., and JPMorgan Chase & Co. as lead arrangers for its second Hong Kong listing this year, according to sources familiar with the matter.
Additional banks may be brought in for what is expected to be one of the largest offerings in Hong Kong in recent years, the sources added, speaking on condition of anonymity due to the private nature of the discussions.
CATL, which has been weighing a second listing in Hong Kong, aims to raise at least $5 billion, with the offering potentially occurring in the first half of this year, Bloomberg News has reported. The company's board approved the listing in December, pending shareholder and regulatory approval.
Discussions are still ongoing, and aspects such as the offering's size, the bank lineup, and the timeline could evolve, the sources noted.
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