Contemporary Amperex Technology Co., Limited (CATL) has completed its H-share placement in Hong Kong, raising approximately HK$39.2 billion (US$5 billion) to support its global expansion strategy.
According to a recent filing with the Hong Kong stock exchange, the company issued 62.39 million new H shares at HK$628.20 per share to no fewer than six independent investors, meeting all precedent conditions.
On an enlarged basis, the newly issued shares account for about 28.58 percent of CATL’s total H shares. This transaction marks the largest stock offering in the Hong Kong market so far this year.
Investors showed exceptionally strong demand, with subscription orders covering the entire offering size within roughly one hour of the placement launch, Bloomberg reported. More than 150 institutional investors participated, including hedge funds, sovereign wealth funds and existing shareholders.
CATL intends to deploy the net proceeds toward expanding its global production capacity, advancing its zero-carbon business initiatives and funding research and development of next-generation battery and energy storage technologies.
The capital raise follows a strong first quarter, in which the company reported a net profit of 20.74 billion yuan (about US$3.04 billion), representing a year-on-year increase of 48.52 percent. This performance underlines the profitability and growth momentum of its core EV battery business.
In conjunction with the share placement, CATL’s board recently approved the establishment of a new subsidiary with a registered capital of 30 billion yuan. This entity will operate as a management and operation platform within the new energy mining sector, reinforcing the company’s upstream supply chain security.
The latest filing confirms that none of the investors in this placement has become a substantial shareholder following the allotment.
Source: CNEV Post
