The Chinese battery manufacturer Catl, which was already listed on the stock exchange in Shenzhen, faces a IPO in Hong Kong. According to the stock market operator, Catl submitted the application for the stock exchange note on Tuesday. A second listing should increase liquidity, especially for financing of the billion dollar building of a battery factory in Hungary.
CATL wants to take at least five billion dollars, reports Bloomberg. That would be the largest IPO in Hong Kong since 2021 when the Tiktok-Competitioner Kuaishou Technology $ 6.2 billion.
The stock exchange in Hong Kong, where emission activity suffered from the volatile markets and the tightened regulation by the Chinese authorities in recent years, advertises such second notes by Chinese stock corporations. Last year, the revenues from stock exchange tours in Hong Kong doubled to around $ 10 billion, but the value is still significantly below the annual average of around $ 30 billion in the ten years before pandemic, as can be seen from Bloomberg data.
Catl: Expansion in Europe
Catl, on the other hand, would not only open up new sources of liquidity at the Chinese Offshore Finanzplatz Hong Kong, but could also be for an escalating trade conflict between China and the USA Arrap, which could also bring capital and investment restrictions. Catl is on a list of companies with other Chinese technology companieswho are accused of collaboration with the Chinese military.