China's Contemporary Amperex Technology (CATL), the world's leading electric vehicle battery producer, has applied for a listing on the Hong Kong Stock Exchange. The initial public offering (IPO) is projected to raise at least $5 billion, potentially becoming Hong Kong's largest IPO in five years. This move aims to diversify the sector mix of Hong Kong-listed shares, currently dominated by Chinese internet companies and banks. The listing is also expected to attract global long-term institutional investors, some of whom may be restricted from investing in mainland China-based companies.
China's Contemporary Amperex Technology , the largest electric vehicle battery producer in the world, has filed for listing on Hong Kong's stock exchange.
The listing will help diversify the sector mix of Hong Kong-listed shares, which largely comprise Chinese internet companies and banks, said GROW Investment's William Ma.Philadelphia news 24/7: Watch NBC10 free wherever you arereported that the deal is expected to raise at least $5 billion, citing sources familiar with the matter.
"The timing is ideal as global investors are starting to find China's markets trading at attractive valuations," Ma told CNBC.The listing will also help diversify the sector mix of Hong Kong-listed shares, which largely comprise Chinese internet companies and banks, he added.after three consecutive years of declines in terms of deal values, according to data from Dealogic. The city's bourse raised $10.65 billion across 63 deals last year, a jump of more than 80% from the $5.
IPO ELECTRIC VEHICLES BATTERY CATL HONG KONG STOCK EXCHANGE
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