China’s Contemporary Amperex Technology (CATL), the world’s largest electric vehicle battery maker, has listed on the Hong Kong stock exchange with shares surging as much as 18% in their debut. The company raised $4.6 billion in its initial public offering (IPO) and opened at 296 Hong Kong dollars ($37.8) per share, well above the subscription price of 263 Hong Kong dollars ($33.6).
CATL’s listing is a significant move by Chinese companies to expand globally despite ongoing trade tensions with the US. The company has been added to the Pentagon’s blacklist due to alleged ties to China’s military, but has denied such links.
The firm supplies major electric vehicle (EV) makers and generates over 30% of its revenue from overseas sales. CATL’s Hong Kong listing is expected to provide a necessary capital boost for its international expansion, which has been constrained by limited foreign currency reserves and rising geopolitical risks.
According to the company, the listing will help build up its foreign currency reserves and leverage international capital to enhance its ability to integrate cross-border resources. This move comes weeks after CATL unveiled an EV battery with a range of 320 miles on a five-minute charge, competing with Tesla-rival BYD’s technology.
CATL has held the title of the world’s largest electric battery supplier for eight years and supplies batteries to over 17 million vehicles worldwide. The company operates 13 battery factories globally and is expanding its facilities in Europe and Indonesia.
Source: https://edition.cnn.com/2025/05/20/business/china-catl-stock-surge-ipo-intl-hnk