The first strong appearance in Hong Kong is strengthened in Catal to collect donations for Chinese companies

Written by Scott Murdoch and Jolly Chu

Hong Kong (Reuters) – Catl contributed to Catl (3750.hkShe closed 16 % higher in her first appearance in Hong Kong on Tuesday after the Chinese electric car battery giant collected $ 4.6 billion in the largest list in the world this year, which increased stock sales prospects by Chinese companies.

The first strong appearance of Catl came despite the increased uncertainty in the market, the Chinese economic slowdown, and the company is placed on the list of the US Department of Defense in January from the companies accused of working with the Chinese army.

With CATL saying in the release bulletin that she was working with the United States Ministry to address “wrong appointment”, global investors, including from the United States, have made offers at several times the number of shares offered.

This is good for other Chinese companies looking to raise money in Hong Kong, while the uncertainty related to trade, the dismantling of financial debts and the weak confidence about the constant American exception to American assets.

The demand for Catl shares is partly driven by increasing positive feelings towards China among global investors who have emerged since the beginning of the year despite the war of China -American tariff.

Catl shares were traded as $ 311.40 Hong Kong in Hong Kong after the company sold shares at $ 263 Hong Kong in the list. The arrow was closed at $ 306.20 Hong Kong, an increase of 16.4 % of the offer price and its comparison with an increase of 1.5 % in the main Hang Singh Index.

The company, which was also included in Senzhen, was the second most trading shares in Hong Kong, where it remained 27.69 million shares worth $ 8.28 billion in the first day of trading.

Catl was aiming to raise about $ 4 billion in the list, but it increased the size after the strong demand from investors. It is still possible to practice the so -called “green shoes option”, which will take the volume of donations to $ 5.3 billion.

In this size, it will be the largest list in Hong Kong since you raised Kuishou 6.2 billion dollars in 2021, according to LSEG data.

The institutional segment of the deal has been approved 15.2 times, according to the Catl files, while the retail part was 151 times exaggerated.

“This list means our broadest integration in the global capital market and a new starting point for us to promote the global carbon economy,” said the founder and chairman of the Catl Robin Zang at the listing ceremony.

Catl said that most of the money collected will be used to build a factory in Hungary, which is part of its plan to make batteries in Europe for automobile companies such as BMW, Stelantis and Volkswagen.