Share China's catl, the largest evidence of the world's EVs, arises in Hong Kong

Share China’s catl, the largest evidence of the world’s EVs, arises in Hong Kong

Hong Kong – Share in catl, the The world’s largest battery manufacturer For electric vehicles, it increased around 13% on Tuesday in its commercial debut of Hong Kong after it raised around $ 4.6 billion in the largest initial public offer in the world this year.

The solid reception for the Chinese company, Contemporary Amperex Technology Co., in Hong Kong suggests that there is still an appetite among international investors for the main Chinese manufacturers despite commercial tensions between Beijing and Washington.

He sold more than 135 million shares at his maximum offer price, $ 263 of Hong Kong ($ 33.6) each. Their shares increased after they began to quote 296 dollars from Hong Kong ($ 37.80), 12.5% ​​higher than its offer price. They were rising around 13% for noon.

Catl also has actions listed in Shenzhen, a neighboring business center of Hong Kong. Initially they fell, but then exceeded 0.1% more on Tuesday.

Catl has a global market share of almost 38% for EV batteries in 2024, according to their listing documents. Supplies automobile manufacturers such as Tesla, Volkswagen, BMW, Mercedes-Benz, Ford, Toyota and Honda.

The company has faced the US pressure. In January, the United States Department of Defense added it to a list of companies that, according to companies, have links with the China Army, an accusation that Catl denied. He called an “error.”

In April, John Moolenaar, president of the Select Committee of the US House. In China, he wrote to the CEO of JPMorgan Chase AND Co. and Bank of America demand that the two American banks withdraw from their work in the Catl OPI. But the two banks stayed.

In the United States, Ford Motor Co. is Catl license technology to build batteries, but the plan faces the resistance of some Republican legislators, who have Expressed concern that the Chinese company could benefit from US tax dollars.

The offer of shares excluded US investors on land, although many large institutional investors in the United States have offshore accounts that allow them to participate.

The company said it plans to use most OPI’s net income to build its factory in Hungary, aimed at bringing it closer to the manufacturing facilities of its main European clients.

Catl registered a 55.3 yuan gain ($ 7.6 billion) in 2024, 16.8% more than 2023. Its list exceeded JX Advancezed Metals of $ 2.9 billion opi in Japan in March, which was previously the largest of this year, according to Renaissance Capital, a supplier of investigations prior to the IPO and ETF with opi sources.

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Associated Press Damian Troise writers in New York and Didi Tang in Washington contributed to this report.

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