Contemporary Amperex Technology Co, or CATL, has launched an accelerated bookbuild to raise about $5 billion through a primary H-share offering in Hong Kong, according to a term sheet seen by Reuters on Monday.
The Chinese electric vehicle battery giant is offering new H shares at HK$628.20 to HK$651.80 each, representing a discount of 3.5% to 7.0% to its last closing price of HK$675.50.
Proceeds will be used for global capacity expansion, development of the company’s zero-carbon business footprint, research and development and general working capital.
CATL, the world’s largest battery manufacturer, did not respond immediately to an emailed request for comment.
Reuters
