Home / New Energy / News detail
CATL sells 10% stake at RMB 25.14 per share
Shirley From Gasgoo| May 30 , 2018

China auto market news, CATL IPO,

Shanghai (Gasgoo)- Contemporary Amperex Technology (CATL) launched officially its prospectus on May 29, planning to issue stocks firstly on the ChiNext board of Shenzhen Stock Exchange. In accordance with the prospectus, investors can subscribe CATL’s shares online on May 30 and pay the share on June 1. Besides, CATL priced each share at RMB 25.14 and the issuing price-earnings ratio reached 22.99 times. In total, the company expects to raise a sum of RMB 5,461,507,447.62 through the IPO. The company will issue no more than 217,243,733 shares, or 10% of its total shares this time, according to the prospectus.

CATL made its first response on the cap of IPO at the net roadshow for the IPO. Zeng Yuqun, chairman of CATL said the reduction of the IPO size will exert little impact on the implementation of its projects, and the battery company is seeking other financing channels, including its own funds or bank loans, to fully finance its aggressive expansion projects to be smoothly implemented. 

The raised funds from the IPO will be applied into the project of CATL's Huxi lithium-ion power battery manufacturing base and the R&D project of CATL's power and energy-storing batteries.

In the latest step in its global expansion, CATL opened an office in Yokohama, Japan. The battery maker is also seeking sites in Germany, Hungary and Poland for its first overseas plant and has said a decision on the location could be announced in June.

Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com

All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: autonews@gasgoo.com