CHINA’s electric vehicle battery maker CATL raised HK$39.2 billion (US$5 billion) on Apr 28,taking advantage of strong demand for green energy stocks as rising oil prices linked to iran push the world toward cleaner energy.
The fundraising comes as Chinese exports of solar products, batteries and electric vehicles hit record highs in March, according to energy think tank Ember, in a sign the oil shock is quickening the global pivot to clean energy, a sector dominated by CATL.
The company held a 38.1 per cent share of the global electric vehicle battery market in the first ten months of 2025, according to South Korean research firm SNE Research, making it the world’s top-ranked battery maker.
CATL, which makes batteries for Tesla, BMW, Volkswagen, Xiaomi and Nio, priced 62.4 million new H shares at HK$628.20 each, the bottom of its marketed range, according to a stock exchange filing on Tuesday.
The shares were sold at a 7 per cent discount to Monday’s closing price of HK$675.50. The stock opened down 6.7 per cent on Tuesday and dropped 7.6 per cent to HK$624 closer to midday.
The fundraising is the largest equity offering in Hong Kong so far this year and the biggest in the financial hub since CATL’s own US$5.25 billion listing last May, the world’s biggest share offering in 2025, according to LSEG data.
Globally, it ranks as 2026’s second-largest equity deal, after Galderma Group’s US$6.26 billion follow-on sale in March, the LSEG data showed.
CATL expands globally while dealing with tough compition in china’s EV market, where high sales don’t always mean strong profits.
Click Here to get the latest EV news and exclusive updates from EV Mechanica on WhatsApp!