CATL’s Hong Kong-listed shares fell more than 5% after reports that the company is considering a rights issue in Hong Kong to raise up to US$5 billion.

$CATL (03750.HK)$The stock price fell at the market opening. As of press time, it dropped by 5.57%, trading at HKD 644.5, with a turnover exceeding HKD 500 million.

On the news front, media reported on the 13th, citing insiders, that CATL is considering selling shares in Hong Kong to raise up to USD 5 billion. The company has already initiated preliminary discussions with several banks regarding the placement. Meanwhile, the company is also contemplating issuing convertible bonds to meet part of its financing needs. Reports indicate that relevant plans are still under discussion and no final decision has been made. A spokesperson for CATL did not respond to requests for comment. Notably, CATL is dual-listed in Hong Kong and Shenzhen, with its share price repeatedly hitting new highs. Its H-shares touched HKD 701 on the 13th and closed at HKD 682.5. Since its listing in Hong Kong in May last year, the stock price has surged 1.6 times.

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CATL’s Hong Kong-listed shares fell more than 5% after reports that the company is considering a rights issue in Hong Kong to raise up to US$5 billion.

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