SINGAPORE, April 27 (Reuters) - Contemporary Amperex Technology Co (CATL) launched a roughly $5 billion share sale in Hong Kong on Monday, tapping markets less than a year after its blockbuster listing as the world's largest EV battery maker seeks to cash in on shares near record highs.
CATL is offering new H shares at HK$628.20 to HK$651.80 each, a discount of 3.5% to 7.0% to Monday's closing price of HK$675.50, according to a term sheet seen by Reuters.
The fundraising comes as CATL moves to lock in capital while its share price remains elevated, as it expands overseas and faces a brutally competitive EV market in China, where sustained profitability has proved difficult despite rapid sales growth.
EXPANSION DRIVE
CATL's Hong Kong-listed shares have surged about 157% from their HK$263 listing price in May 2025. Its Shenzhen-listed shares are up about 18.4% year to date, valuing the company at about $293.9 billion, according to LSEG data.
Last week, a Sinopec unit sold 8.5 million CATL Hong Kong shares for about $770 million, cashing in on the rally. In March, CATL reported fourth-quarter and full-year 2025 net profit that beat market estimates.
CATL raised about $4.6 billion in its Hong Kong listing, the world's largest in 2025, and said most of the proceeds would fund a battery plant in Hungary.
Monday's term sheet said proceeds from the share sale will be used for global capacity expansion, developing zero-carbon business, research and development and general working capital.
CATL, which supplies automakers including Tesla, BMW, Volkswagen, Xiaomi and Nio, did not immediately respond to an emailed request for comment.
(Reporting by Yantoultra Ngui. Editing by David Goodman and Mark Potter)
By Yantoultra Ngui
