Caixin
Apr 05, 2018 03:55 AM
BUSINESS & TECH

Battery Maker CATL Gets Green Light for $2.1 Billion IPO

CATL became the world’s largest electric car battery-maker last year. Above: the company’s headquarters in Ningde, Fujian province. Photo: VCG
CATL became the world’s largest electric car battery-maker last year. Above: the company’s headquarters in Ningde, Fujian province. Photo: VCG

China’s largest electric-car battery-maker, Contemporary Amperex Technology Co. (CATL), won regulatory approval on Wednesday for its 13.1 billion yuan ($2.1 billion) initial public offering.

The IPO would value the company at $20.8 billion, making CATL the largest company on the ChiNext board in Shenzhen.

The approval took five months. That’s a lot faster than the pace of most applicants, and underscores China’s efforts to attract more tech listings to its domestic market.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.