CATL Raises $4.6B in Largest 2025 IPO Shares Surge Over 12%

Chinese battery giant Contemporary Amperex Technology Co Limited (CATL), the world's largest electric vehicle battery maker, made its Hong Kong Stock Exchange debut in 2025 with an initial public offering that raised approximately US$4.6 billion, marking the largest global listing of the year. CATL's shares surged between 12.5% and 17% on debut, trading above the HK$263 IPO price, reflecting strong investor demand with institutional and retail portions significantly oversubscribed. The company, already listed in Shenzhen with a valuation exceeding 1 trillion yuan, plans to allocate 90% of the raised funds to build a new factory in Hungary to supply European clients like Stellantis, BMW, and Volkswagen, complementing its global expansion efforts including plants in Germany and Spain. Despite facing U.S. national security scrutiny and trade tensions, including being placed on a Pentagon watchlist, CATL has continued to grow, posting a 15% net profit increase in 2024 amid intense competition and benefiting from surging EV sales in China. CATL is a key supplier to major automakers such as Tesla and invests heavily in innovation, recently unveiling a battery capable of fast charging for 323 miles in five minutes. Industry experts praise CATL as a critical player in the global EV supply chain, underscoring its strong position and strategic importance in the electric vehicle market.