Contemporary Amperex Technology Co Ltd is considering a share sale to raise up to $5 billion in the Hong Kong Special Administrative Region following a stock rally, according to people familiar with the matter.

CATL, the world’s largest maker of electric-vehicle batteries, has held preliminary talks with banks about the placement, the people said, asking not to be identified because the deliberations are private.

ALSO READ: CATL Hong Kong rally drives record premium over mainland shares

CATL has also been considering selling convertible bonds to meet some of its funding needs, two of the people said. Considerations are ongoing and no final decisions have been made, the people said.

A representative for CATL didn’t respond to a request seeking comment.

CATL last month reported full-year profit for 2025 that beat estimates after it weathered a price war in the Chinese mainland by boosting overseas sales and leveraging its dominance in the energy-storage industry.

READ MORE: Chinese battery giant CATL unveils new EV batteries for Europe

CATL shares have surged about 160 percent since they started trading in Hong Kong in May last year, following a second listing in the Asian financial hub. The company also trades in Shenzhen and has a market value of about $289 billion.

Other media including Dealreporter and IFR reported on CATL’s share sale considerations earlier.