Latest news with #HongKongListing
Yahoo
23-05-2025
- Business
- Yahoo
Jamie Dimon Says JPMorgan Was Right to Do CATL Deal Despite Opposition
(Bloomberg) -- JPMorgan Chase & Co. underwrote Contemporary Amperex Technology Co. Ltd.'s Hong Kong listing despite opposition from US lawmakers, given that Washington hasn't placed sanctions on the Chinese battery maker, Chief Executive Officer Jamie Dimon said. Can Frank Gehry's 'Grand LA' Make Downtown Feel Like a Neighborhood? Chicago's O'Hare Airport Seeks Up to $4.3 Billion of Muni Debt NJ Transit Makes Deal With Engineers, Ending Three-Day Strike 'If we thought it was wrong, we wouldn't do it,' Dimon said in an interview with Bloomberg Television on Thursday at JPMorgan's Global China Summit in Shanghai. CATL, as the electric-vehicle battery maker is known, debuted its Hong Kong shares this week in the world's biggest listing of the year, raising $5.2 billion. 'The government did not sanction CATL,' Dimon said. 'There are people who didn't want us to do it for a bunch of reasons, and they may have somewhat legitimate reasons. But I think the government should decide what to do.' The House Select Committee on the Chinese Communist Party had sent Dimon and Brian Moynihan, the CEO of fellow CATL underwriter Bank of America Corp., letters in April urging them to withdraw from the listing, citing the company's inclusion on a Pentagon blacklist alleging links to the Chinese military. CATL denies having military links. Just this week, founder and Chairman Robin Zeng told Bloomberg News that the 'accusation is completely groundless.' He also said Dimon wrote him several letters expressing his support for CATL. CATL's Hong Kong shares were down about 2% Thursday afternoon at around HK$330. That's significantly higher than the listing price of HK$263 following gains of more than 10% both Tuesday and Wednesday. The shares will be added to MSCI's standard and large cap gauges for China from June 2, the index provider said Wednesday. CATL also trades in Shenzhen, where it is up about 32% over the past 12 months. After CATL exercised the so-called greenshoe option, the overall proceeds of the Hong Kong listing rose from HK$35.7 billion ($4.6 billion) to HK$41 billion. That meant the maximum number of shares that could've been sold were sold. The Fujian-based battery maker has said the proceeds will help fund its expansion in Europe. 'We and other investment banks do a lot of due diligence around all the issues that people raise,' Dimon added. Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
21-05-2025
- Business
- Reuters
China's Jiangsu Hengrui to raise $1.27 billion in Hong Kong listing, sources say
SYDNEY, May 21 (Reuters) - China's Jiangsu Hengrui will price its shares at HK$44.05 ($5.63) each, the top of its price range, to raise $1.27 billion in its Hong Kong listing, according to two sources with direct knowledge of the matter. The sources could not be named because they were discussing confidential information.
Bloomberg
14-05-2025
- Business
- Bloomberg
Pony AI Is Said to Confidentially File for Hong Kong Listing
Autonomous-driving company Pony AI Inc. has confidentially filed for a Hong Kong listing to help raise capital to grow its business, according to people familiar with the situation. The filing has been done confidentially to limit the impact on Pony AI's US-traded shares, the people said, asking not to be identified discussing a private process. A Hong Kong offering may take place this year, but the size isn't yet known, they added.
Zawya
14-05-2025
- Business
- Zawya
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)
Reuters
14-05-2025
- Business
- Reuters
China's CATL set to price shares at HK$263 each in Hong Kong listing, sources say
SYDNEY, May 14 (Reuters) - Chinese battery maker CATL ( opens new tab is set to price its shares at HK$263 ($33.70) each in the company's Hong Kong listing, according to two sources with direct knowledge of the matter, raising at least $4 billion. Prospective investors have been told orders for stock made below HK$263 per share risk missing out on allocations, the sources added. The sources could not be named discussing confidential information. CATL did not immediately respond to a request for comment. ($1 = 7.8048 Hong Kong dollars)
