New stock news | Contemporary Amperex Technology (300750.SZ) officially announced its listing in Hong Kong, potentially raising at least $5 billion.

Contemporary Amperex Technology (300750.SZ) announced that, in order to further promote the company's globalization strategy, create an international capital operation platform, and enhance comprehensive competitiveness, the company is planning to issue H shares and list on the Main Board of the Hong Kong Stock Exchange. The company will fully consider the interests of existing shareholders and the domestic and foreign capital markets, and will choose an appropriate timing and issuance window to complete the issuance and listing within the validity period of the shareholders meeting resolution. Contemporary Amperex Technology indicated that as of now, the specific details regarding the issuance and listing have not been finalized. The company's Board of Directors has decided to appoint PricewaterhouseCoopers Hong Kong as the auditor for the issuance and listing. Additionally, Contemporary Amperex Technology also announced that the number of H shares to be issued this time would not exceed 5% of the total share capital of the company after the issuance (before exercising the over-allotment option), and the overall coordinator would be granted an over-allotment option of up to 15% of the above-mentioned H shares to be issued. Earlier, according to sources, Contemporary Amperex Technology is considering a secondary listing in the Hong Kong market, aiming to raise at least $5 billion USD (approximately HK$39 billion). It is reported that Contemporary Amperex Technology is in communication with potential consultants, and the earliest listing may be in the first half of 2025. If Contemporary Amperex Technology's secondary listing in Hong Kong raises $5 billion USD, this fundraising amount would become the largest IPO in the Hong Kong stock market since Kuaishou Technology's listing in early 2021. Regarding the IPO team, media reports last year suggested that the IPO team for Contemporary Amperex Technology may include China Securities Co., Ltd., CICC, Goldman Sachs, and UBS. In terms of financial reports, in the first nine months of this year, Contemporary Amperex Technology achieved a revenue of RMB 259.045 billion, a decrease of 12.09% year-on-year, with a net profit attributable to the parent company of RMB 36.001 billion, an increase of 15.59% year-on-year.