Post #6011

🇨🇳🇭🇰CATL Raises $5bn in Hong Kong Secondary Offering CATL priced 62.4 million new H shares at HK$628.20 each — the bottom of its marketed range — raising HK$39.2 billion ($5bn) in Hong Kong's largest equity offering of 2025 and the second-largest globally this year after Galderma's $6.26bn deal in March. Shares opened down 6.7% and fell 7.6% to HK$624 by midday, priced at a 7% discount to Monday's close. The deal follows record Chinese exports of solar products, batteries, and EVs in March, with the Iran war-driven oil shock accelerating the global shift to clean energy — a sector where CATL holds a 38.1% share of the global EV battery market through the first ten months of 2025. The offering exceeds CATL's own $5.25bn Hong Kong listing in May 2025, currently the world's largest share offering that year. CATL is expanding overseas while navigating intense domestic competition in China's EV market, where rapid volume growth has yet to produce durable margins. #China#HongKong @asianomics