Battery Maker CATL Gets Green Light for $2.1 Billion IPO
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.
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