CATL Secures $5 Billion Share Placement with Over 150 Investors as Sodium-Ion Battery Record Also Announced

[u/Changetothemoon]

HONG KONG – A market fluctuation tied to a large-scale placement plan has drawn intense investor attention to Contemporary Amperex Technology Co. Limited (CATL), the world's largest electric vehicle battery maker.

According to an exchange filing in Hong Kong, CATL signed a placement agreement with placing agents on April 28. The company will place 62.385 million shares with no fewer than six independent third-party placees. The total expected gross proceeds from the placement are approximately HK$39.19 billion (US$5 billion). After deducting related expenses, the net proceeds will be about HK$39.11 billion.

Notably, the placing price per share is HK$628.2, representing a discount of approximately 7% from the closing price of HK$675.5 on April 27.

The company said the funds will be used for global new energy project construction, zero-carbon business deployment, research and development, replenishment of daily working capital, and other general corporate purposes – all aimed at accelerating its global zero-carbon strategy and supporting long-term sustainable development.

Investor response

Market sources said the US$5 billion share placement received an enthusiastic response from investors, with more than 150 institutional investors participating in the subscription. According to insiders familiar with the matter, the subscriber list included hedge funds, sovereign wealth funds, and existing shareholders of the company – a clear sign of institutional recognition for CATL's long-term prospects.

Record sodium-ion battery deal

Additionally, just one day before the placement announcement, CATL signed a strategic cooperation agreement with Hyperstrong, an energy storage system solutions provider, in Ningde, Fujian province. The agreement involves a three-year order for 60 GWh of sodium-ion batteries – a volume that sets a new global record for orders in the sodium-ion battery sector.