Report: CATL plans to raise approximately $5 billion through a share placement in Hong Kong to fund global expansion and R&D.

Report: CATL plans to raise approximately $5 billion through a share placement in Hong Kong to fund global expansion and R&D.

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CATL plans to raise about $5 billion through a stock placement in Hong Kong. This transaction is expected to become the largest equity financing in the Hong Kong market so far in 2026, further helping the company strengthen its competitive position in the global new energy battery industry and expand its overseas presence.

According to Bloomberg, which obtained the transaction terms, the placement price range is set at HKD 628.20 to HKD 651.80 per share, representing a 3.5% to 7% discount to Monday’s closing price in Hong Kong. Bank of America, China International Capital Corporation, JP Morgan, and Morgan Stanley are acting as joint arrangers. Upon completion of the transaction, CATL will be subject to a 90-day lockup period.

The funds raised will be used for global capacity expansion, zero-carbon business deployment, R&D investment, working capital, and other general corporate purposes. The scale of this financing is comparable to what the company raised when it listed in Hong Kong in 2025.

It is noteworthy that this placement introduces the 144A issuance mechanism for U.S. investors for the first time, enabling CATL to directly reach U.S. institutional investors and helping to broaden its investor base. Previous Hong Kong listings did not adopt this arrangement.

Second Large-Scale Financing Within the Year, Hong Kong Market Sees Continued Fundraising Heat

CATL is headquartered in Ningde, Fujian. The Hong Kong listing completed last year raised $5.3 billion, making it the world’s second largest IPO transaction that year. Launching another large-scale equity financing within less than a year shows the company is actively leveraging the Hong Kong market as a fundraising window to prepare ammunition for its next phase of international expansion.

This transaction takes place against the backdrop of a significant increase in activity in Hong Kong’s equity financing market. According to Bloomberg, Hong Kong financial officials recently stated that the Hong Kong IPO market has raised a total of $17.9 billion so far in 2026, with continued market enthusiasm.

On the same day, China Hongqiao Group also launched a $1.5 billion convertible bond issuance plan. The consecutive completion of multiple large-scale fundraising transactions reflects that the Hong Kong market is ushering in a window period of accelerated large transactions, with strong participation interest from international capital.

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