As Ford Authority reported this past December, Ford EV partner/supplier CATL has been mulling the idea of creating a second stock listing in Hong Kong as a way to raise more funds to help with its expansion outside of the domestic Chinese market. At that time, the company believed that such a move could raise $5 billion USD in funds, which would make it the second-largest such listing in that exchange since early 2021. Now, it seems as if CATL is getting a bit closer to making that a reality, though it has also lowered its expectations as well.
According to a new report from Reuters, the latest prospectus from CATL notes that the EV battery maker expects to raise around HK$31.01 billion ($3.99 billion USD) from its Hong Kong stock listing, after it sells 117.9 million shares at a maximum offer price of HK$263 per share. The company plans to sell 109.1 million shares to institutional investors, as well as 8.8 million shares to retail investors.
CATL’s new stock listing is expected to go live on the Hong Kong Stock Exchange on May 20th, and it will announced the final price of those shares no later than May 19th, according to its prospectus. Year to date, CATL shares have increased in value by 65 percent, giving the company a market value of $164 billion. Though the battery maker fell short of meeting its net income target in Q3 2024, it has since rebounded in a big way, and even posted a record profit result in Q1 2025 to open up the new year.
As Ford Authority previously reported, CATL is in the midst of rolling out thousands of EV battery swap stations, a major development in that particular segment. It continues to expand its presence in Europe, and recently formed a new battery swapping partnership with NIO in an effort to ramp up that tech in China. In the U.S., CATL will license lithium-iron phosphate battery technology to Ford, which The Blue Oval will use to build LFP batteries at the future BlueOval Battery Park Michigan site.
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