The Catl battery commander rises on the first appearance after a list of 2025

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The shares of the leading Chinese Catl company in the battery maker increased by more than 16 percent on the first day of trading in Hong Kong after the largest list in the world so far this year.

the Secondary show It raised at least $ 4.6 billion, with the amount to $ 5.3 billion if the option allows the controls to sell more shares more than the plan.

It is among the largest offers in Hong Kong by Chinese companies already listed on the mainland in recent years, with Catl also in Shenzhen.

Founder Robin Zang trimmed Gong to celebrate the start of trading on the Hong Kong Stock Exchange. Hong Hong Kong Paul Chan and Vice President of the coastal city of Ningdy in southeast China joined him, where the company has its headquarters.

Zing said on Tuesday that Catal was not satisfied with being “just a factory consisting of battery components” and was about to be the “pioneer” of the zero economy in the carbon.

CATL represents about 37 percent of the EV batteries market and the world’s energy storage. A supplier of Tesla, BMW and Volkswagen, and the company rich in criticism has sought an external list of funding other than Renminbi for its expansion abroad, especially a factory of $ 7.3 billion in Hungary.

The list obtained support from American banks, while the American Asset Management Company was a major investor, despite the geopolitical tensions that revolve around the deal.

In January, the battery maker was added to a black list for the Pentagon, which is believed to have links to the Chinese army, although they denied any such ties.

In April, a Republican legislator urged Jpmorgan Chase and Bank of America To stop work In the list, in a warning sign of politicizing these capital market deals. The American lenders, as the main banker, remained in the deal, along with the China International State Foundation, supported by the Chinese state and securities.

The demand has been strengthened by turning the growing global investors of American assets, including the US dollar, according to analysts.

Participants in the market suggested that the list played a role in raising the dollar exchange rate in Hong Kong earlier in May, where investors in the offer bought the Hong Kong dollar and rackets to rise, forcing Hong Kong’s monetary authority to intervene and buy approximately $ 17 billion to raise the exchange rate.

“We are in this kind of unique scenario, as you have a well -known company that issues new shares, and also at a time when you have a macro factor where investors want to diversify away from assets related to US dollars,” said Jason Louie, president of Asia Pacific and Strategy derived from BNP Paribas.

Analysts and participants in the deal said they believe that the increasing demand enables Catl of the price At the top end From 263 Hong Kong dollars per share – only about 7 per cent discount on price upon closing on Monday in Chentyn, where her shares are trading with profits of approximately 18 times.

The Chinese “stocks” usually trades in the main righteous exchange by a percentage of degrees to the equivalent of “H-Chaare” in Hong Kong, and the initial public offers are usually priced with a discount to seduce buyers.

Wang Shgang, a member of the CICC CICC Commission for Mediation, said that the successful appearance of Catl will encourage more Chinese companies in various sectors to follow up on the Hong Kong lists.

“The A-Share market provides strong liquidity and higher assessments,
“Although the Hong Kong market enables flexible financing, companies can access various financing options and enhance the financial light of their global operations,” said Wang.

The Chinese Oil Company, Sinopk, the sovereign wealth fund for investment in Kuwait and the Hilhus Asian Investment Fund for Investment before the shares were published on the basis of the so -called lily investors. It was joined by Oaktree Capital Management and Lingoto, an investment vehicle supported by the Italian industrial Agnelli family, as well as units of two state -owned Chinese groups, the postal savings bank in China and the Taikang Life.

A person familiar with the deal told the Financial Times that other American investors chose to wait for investment even after the list in order to reduce the audit from Washington.

Meanwhile, many prominent American investors will not be able to reach the stocks, due to the listing it was presented under “RG S” instead of “144A” under the US Securities Law. This relieves Catl from some disclosure obligations and means that American investors without accounts abroad are prevented from investing.