China's CATL set to price shares at $33.70 each in Hong Kong listing, sources say
SYDNEY: Chinese battery maker CATL is set to price its shares at HK$263 ($33.70) each and increase the size of the company's Hong Kong listing, according to two sources with direct knowledge of the matter, raising about $4.6 billion.
It would the largest listing globally in 2025, according to LSEG data.
Prospective investors have been told orders for CATL stock made below HK$263 per share risk missing out on allocations, the sources added.
A so-called offer size adjustment option to increase the number of shares on sale by 17.7 million is set be exercised, the sources said.
Adding that stock will take the value of CATL's listing to about HK$35.66 billion ($4.57 billion).
The sources could not be named discussing confidential information.
CATL did not immediately respond to a request for comment from Reuters.
The HK$263 price is about a 6% discount to CATL's Shenzhen-stock's closing price of 258.77 yuan (HK$279.99) on Tuesday. The stock was trading up about 1% on Wednesday, compared to China's CSI300 which was up about 1.5%. ($1 = 7.8048 Hong Kong dollars) (1 Hong Kong dollar = 0.9242 yuan) (Reporting by Scott Murdoch and Kane Wu; Editing by Muralikumar Anantharaman)
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