China's Catl to Raise at Least $4 Billion in Hong Kong Listing
TMTPOST -- Chinese battery manufacturer Contemporary Amperex Technology Co. Ltd. (CATL) aims to raise at least HK$31.01 billion ($3.99 billion) through its Hong Kong listing, as revealed in a prospectus filed on Monday. This would mark the largest initial public offering (IPO) in the city this year.
The electric vehicle battery maker is offering 117.9 million shares at a maximum price of HK$263 per share, according to documents submitted to the Hong Kong Stock Exchange.
The total deal size could increase to about $5.3 billion if an offer size adjustment option and a greenshoe option are both exercised.
Over 20 cornerstone investors, including Sinopec and the Kuwait Investment Authority, have committed to purchasing around $2.62 billion worth of CATL shares, the prospectus disclosed.
The offer size adjustment option could potentially increase the number of shares by up to 17.7 million, raising an additional HK$4.65 billion ($598 million). The greenshoe option provides the opportunity to sell up to an additional 17.7 million shares.
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