GreenergyDaily

May. 20, 2025

Shares of Chinese electric vehicle battery giant CATL traded as much as 18.4% above the subscription price on Tuesday after the company raised $4.6 billion in its Hong Kong listing, the largest in the world this year.

CATL's shares began trading at HK$296 per share, 12.5% higher than the offer price of HK$263, and closed 16.4% higher at HK$306.20. The closing price gave it a market capitalization of about HK$1.39 trillion.

CATL, which is also listed in Shenzhen, last week raised $4.6 billion in Hong Kong, which was the largest listing in the city since Midea Group raised the same amount last year.

"This listing means our wider integration into the global capital market and a new starting point for us to promote the global zero-carbon economy," CATL Founder and Chairman Robin Zeng said at the listing ceremony.

CATL's deal means $7.73 billion has been raised in Hong Kong through initial public offerings and second listings so far in 2025, compared to $1.05 billion at the same time last year, according to LSEG data.

Bonnie Chan, CEO of bourse operator Hong Kong Exchanges and Clearing (0388.HK), opens new tab, said more than 40 firms listed in mainland China, known as A-share companies, were actively exploring Hong Kong listings.