Contemporary Amperex Technology Co. Limited (CATL) is reportedly seeking to raise at least $4 billion through an IPO in Hong Kong.

According to informed sources, Ningde Times New Energy Technology Co., Ltd. plans to raise at least $4 billion through listing in Hong Kong, making it the largest IPO in the world this year. The sources said that if the transaction size is expanded and the over-allotment option is exercised, the final fundraising amount could increase to $5.3 billion. The sources said that it is highly likely that this option will be exercised. The sources said that the highest pricing for Ningde Times' listing in Hong Kong could be equivalent to its closing price of 244.57 yuan on the Shenzhen market on Thursday. They stated that discussions are still ongoing and plans may change.