CATL disclosed the board announcement and published the registration prospectus for the issuance stage, announcing the official launch of international allocation bookkeeping. It is expected to be listed on the main board of the Hong Kong Stock Exchange and begin trading on May 20th. Based on the upper limit of the issuance price of HKD 263.00 per share, the expected size of this Hong Kong IPO is USD 4-5 billion, making it one of the largest IPO projects in the Hong Kong stock market in recent years.

According to the announcement, the upper limit of the issuance price range for this Hong Kong IPO is HKD 263.00 per share, which is basically the closing price of A-shares on May 8th, achieving a high pricing close to A-shares prices. The Hong Kong IPO plans to issue a total of 118 million shares, with additional options for adjusting the offering quantity and over allotment rights. If both options are fully exercised, based on the upper limit of the issuance price of HKD 263.00 per share, the expected total fundraising amount is USD 4-5 billion.

This issuance has attracted a luxurious lineup of cornerstone investors, including energy giants, sovereign wealth funds, and top market-oriented institutions, to subscribe for up to HKD 20.371 billion (calculated based on the issuance price ceiling of HKD 263.00 per share). According to disclosure, investors participating in this cornerstone subscription include Sinopec, KIA (Kuwait Investment Authority), Hillhouse Capital, Gaoyi Asset Management, UBS Asset Management, Oaktree, Mirae (Future Assets), RBC (Royal Bank of Canada), Taibao, Taikang, Boyu, Jinglin, etc.