By P.R. Venkat
Shares of Chinese battery giant Contemporary Amperex Technology soared Tuesday on their Hong Kong debut, marking what could be the largest listing in the Asian financial center this year.
CATL, which raised $4.0 billion in a secondary listing, saw shares opening 13% higher compared with its listing price of 263 Hong Kong dollars, equivalent to US$33.63 a share.
The company is already listed on the ChiNext board of the Shenzhen Stock Exchange.
CATL's offering coincides with a return of risk appetite to global equity markets due to easing trade tensions, particularly between the U.S. and China.
While the battery major is relatively insulated from tariff disruptions because of its limited revenue exposure to the U.S. market, CATL has cautioned about a degree of uncertainty in the outlook.
CATL, which accounted for over one-third of the global battery market last year, has 13 manufacturing bases worldwide and service outlets in 64 countries and regions.
According to its prospectus, CATL's EV batteries were installed in more than 17 million vehicles, representing one in every three EVs worldwide in 2024.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
May 19, 2025 21:50 ET (01:50 GMT)
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