Space News from SpaceDaily.com
Chinese battery giant CATL starts Hong Kong listing process
ADVERTISEMENT


Hong Kong, Feb 11 (AFP) Feb 11, 2025
Chinese battery giant CATL started the application process on Tuesday to be listed in Hong Kong and named seven banks as overall coordinators, according to stock exchange filings.

CATL, which produces more than a third of the EV batteries sold worldwide, filed a 527-page document to the Hong Kong Stock Exchange with offer-related information redacted.

It is the first step in what analysts say could be a jumbo initial public offering that could boost Hong Kong's fortunes as a listing hub.

"This Application Proof is in draft form," the firm said in the document, which includes financial information and corporate details with redactions.

CATL said in another exchange filing dated Tuesday it has "appointed... overall coordinators" and listed seven financial institutions.

The company is publicly traded in Shenzhen and its plans to seek a secondary listing in Hong Kong were announced in an exchange filing in December.

Founded in 2011 in the eastern coastal Chinese city of Ningde, CATL has grown into the world's largest EV battery maker and supplies firms including Mercedes-Benz, BMW, Volkswagen, Toyota, Honda and Hyundai.

In January, the US Department of Defense added CATL to a list of companies it says are affiliated with Beijing's military.

China has denounced the move as "suppression", while CATL denied engaging "in any military related activities".


ADVERTISEMENT





Space News from SpaceDaily.com
NASA announces overhaul of Artemis lunar program amid technical delays
NASA rolls Moon rocket off launchpad for repairs
NASA astronaut who required evacuation from ISS 'doing very well'

24/7 Energy News Coverage
AALTO plans Zephyr stratospheric hub in northern Australia and seeks local payload partners
Ancient guano drove Chincha coastal power
UAH lands first DARPA award for biological sciences department

Military Space News, Nuclear Weapons, Missile Defense
Sidekick autonomy software guides YFQ-42A test mission for CCA program
Infleqtion lists shares on NYSE as neutral atom quantum firm
CGI and Vantor team on AI spatial intelligence for GNSS denied operations

24/7 News Coverage
Solar-driven ionosphere charges may nudge stressed faults toward rupture
Stable black carbon in mangrove soils boosts coastal climate role
Low crystallinity iron minerals show promise for chromium cleanup and carbon storage



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.