China battery giant CATL plans $2b IPO to fund expansion

China battery giant CATL plans $2b IPO to fund expansion

Photo: REUTERS/JASON LEE

Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL) is planning a 13.1 billion yuan ($1.97 billion) initial public offering in Shenzhen to drive its expansion and meet soaring demand for electric car batteries.

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