Hong Kong regains No 1 spot in global fundraising, catapulted by CATL’s US$5.2 billion IPO
EV battery maker’s shares advance 16.4 per cent to close at HK$306.20 on the first day of trading in the city
Trading under the stock code 3750, CATL shares first changed hands on Tuesday at HK$296, or 12.5 per cent above the offer price of HK$263, in a stock offering that raised HK$41 billion (US$5.24 billion) after exercising an overallotment option.
The stock surged to a high of HK$311.40 before closing at HK$306.20 for a 16.4 per cent first-day gain. In Shenzhen, CATL’s shares advanced 1.2 per cent to 263 yuan (HK$285.14). The company has a market capitalisation of US$337.9 billion based on current stock prices.
“This listing signifies our deeper integration into the global capital markets and marks a new milestone in our mission to drive the global zero-carbon economy,” founder and chairman Robin Zeng Yuqun said, before striking a ceremonial gong to mark the start of trading. “CATL is not just a battery component manufacturer; we are a system solution provider and are committed to becoming a zero-carbon technology company.”