Contemporary Amperex Technology Co Ltd has raised HK$41 billion ($5.2 billion) for its Hong Kong share sale after arrangers of the deal exercised the so-called greenshoe option to increase the offering, making the world’s biggest listing this year even bigger.
The Chinese mainland electric-vehicle battery giant, commonly known as CATL, is issuing 20.3 million additional shares, representing about 15 percent of total shares issued for the listing after the upsize option, according to a filing it made to the Hong Kong exchange late Tuesday. That increases the deal size from HK$35.7 billion.
CATL, whose shares also traded in Shenzhen, surged 16 percent in its Hong Kong Special Administrative Region debut on Tuesday and rose 8 percent on Wednesday.
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The debut sets a rosy tone for other second listings of mainland companies in the SAR. Dealmakers have expected those deals to fuel much of Hong Kong’s share-sale recovery this year.