Contemporary Amperex Technology Co Ltd is seeking to raise about $5 billion from a Hong Kong share sale, according to terms of the deal seen by Bloomberg News.

The Chinese mainland battery maker is offering shares at HK$628.20 to HK$651.80 each, the terms show, representing a discount of 3.5 percent to 7 percent to the Monday closing price in the Hong Kong Special Administrative Region.

CATL, as the company is known, plans to use the proceeds for global capacity expansion, development of zero-carbon business footprint, research and development, working capital and other general corporate purposes.

China International Capital Corp, Bank of America Corp, JPMorgan Chase & Co and Morgan Stanley are arranging the deal.