On May 12th, CATL disclosed the prospectus for its H shares, as well as the upper limit of the H share offering price and the public offering of H shares in Hong Kong. It is expected to be listed on the main board of the Hong Kong Stock Exchange and start trading on May 20th this year.

The announcement shows that the upper limit of the issue price range for CATL’s Hong Kong IPO is HK $263 per share, which is basically the closing price of A-shares on May 8 this year, achieving A high pricing close to the A-share price. At the same time, this Hong Kong IPO is planned to issue a total of 118 million shares, with an additional right to adjust the issuance volume and an over-allotment option. If both rights are fully exercised, based on the upper limit of the issuance price of HK $263 per share, the total amount of funds raised is expected to be between 4 billion and 5 billion US dollars (approximately 28.95 billion to 36.19 billion yuan). It will become one of the largest IPO projects in the Hong Kong stock market in recent years and is expected to be the largest listing transaction globally this year.

It is understood that the investors participating in the subscription of the cornerstone of CATL this time include Sinopec, KIA (Kuwait Investment Authority), Hillhouse Capital, Gao Yi Asset Management, UBS (UBS) Asset Management, Oaktree (Oak Capital), Mirae (Future Asset), RBC (Royal Bank of Canada), CPIC, Taikang, Boyu, Jinglin, etc. Catl said that this issuance has attracted up to HK $20.371 billion (about 18.9 billion yuan) in subscriptions from cornerstone investors including energy giants, sovereign wealth funds and top market-oriented institutions.