The Chinese battery cell manufacturer Catl was welcomed with price gains on the Hong Kong. The papers increased by up to 18.4 percent on their first trading day. Catl founder and administrative council chief Robin Zheng said that Catl is being closer into the global capital market with the step. The company received a total of $ 4.6 billion (EUR 4.1 billion) of fresh capital.
This is the world’s largest IPO this year. Including the placement reserve, the volume is $ 5.3 billion – most recently with Kuaishou Technology 2021, a company had received more money on the stock exchange in Hong Kong. Catl is already listed on the stock exchange in Shenzhen.
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Wang Shuguang from China International Capital Corp (CICC) said that Catl’s IPO could revive the Hong Kong market. According to Bonnie Chan, head of the Hong Kong stock exchange operator, more than 40 companies from China are currently examining an IPO in Hong Kong. So far, LSEG calculations have been recorded on the Hong Kong Stock Exchange this year, compared to $ 1.05 billion in the previous year.
Insider: Catl benefited from a break in the trade dispute with the USA
According to insiders, Catl benefited from the recent ceasefire in the trade dispute with the USA. The books were already open when the two countries had agreed on a break. This prompted some international investors to offer Catl shares, said two familiar people with the process.
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Image: Greg Baker (AFP)
Source: Nachrichten
