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China’s CATL files for secondary listing in Hong Kong to fund expansion
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TechNode
Shenzhen-listed battery giant CATL has applied to list in Hong Kong and plans to use the proceeds to fund the construction of a new 100 gigawatt-hours (GWh) battery pack factory in Hungary, in what could be the largest fundraising exercise in the city since early 2021.
The company could raise more than $5 billion, Bloomberg had reported.
CATL currently has 13 production bases in China and abroad, including one in Hungary and another in Thuringia, Germany, which began operations with an annual facility of 14 GWh in early 2023.
Regulatory approval for a joint plant with Stellantis in Spain is expected later this year.
[Bloomberg, TechNode reporting]Related
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