Chinese battery giant CATL's Hong Kong listing to raise at least $5 billion is due to be approved by the city's stock exchange on Thursday, according to two sources with direct knowledge of the matter.

CATL's listing is set to happen in the second quarter of this year, according to two separate sources.

The exact timing of the share sale launch is still to be decided in light of the global financial market volatility caused by U.S tariffs, one of the sources added.

The sources could not be named because they were discussing confidential information. CATL did not immediately respond to a request for comment from Reuters.

The battery giant's listing would be the largest in Hong Kong in four years since Kuaishou Technology raised $6.2 billion in an initial public offering.

CATL said in late March the China Securities Regulatory Commission had approved the planned share sale.

In an earlier regulatory filing, CATL said part of the funds raised will be used to build a 7.3 billion-euro ($7.53 billion) battery plant in Hungary.

CATL's Shenzhen listed stock was trading 3.3% higher on Thursday, outperforming the blue-chip Chinese CSI300 index, which was up 1.1%.

Despite the gains, CATL's share price is down 18% so far this year.