China’s Contemporary Amperex Technology Company Limited (CATL) has priced its Hong Kong share sale at the lower end of the indicated range, raising HK$39.19 billion, according to an exchange filing on Tuesday.
CATL, the world’s largest EV battery maker, is offering 62.4 million new H shares at HK$628.20 each, representing a seven percent discount to the stock’s last close.
CATL has launched the share sale in Hong Kong as it seeks to secure capital with its share price still elevated amid overseas expansion and intensifying competition in China’s EV market.
The term sheet showed that the new shares would be offered at a range between HK$628.20 and HK$651.80 each.
The company said proceeds raised from the share sale would be used for the construction of global new energy projects and the layout of zero-carbon business, research and development investment and daily working capital, among others. (Reuters)
