(Bloomberg) — Contemporary Amperex Technology Co. Ltd. is poised to hire Bank of America Corp., China International Capital Corp., CSC Financial Co. and JPMorgan Chase & Co. as lead arrangers for a second listing in Hong Kong this year, according to people familiar with the matter.
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Other banks are likely to be added for what could be one of the largest offerings in Hong Kong in recent years, the people said, asking not to be identified because the deliberations are private.
CATL, as the world’s top electric-vehicle battery maker is known, has been considering a second listing in Hong Kong as soon as the first half of this year that could help it raise at least $5 billion, Bloomberg News has reported. The company’s board approved the second listing in December, pending approval from shareholders and regulators.
Considerations are ongoing and details such as the size of any offering, lineup of banks and timeline may change, the people said.
Representatives for CATL, Bank of America and JPMorgan declined to comment, while CICC and China Securities, as CSC Financial is known, didn’t immediately respond to requests for comment.
CATL, based in southeast China’s Fujian province and a major supplier to Tesla Inc., trades on the Shenzhen stock exchange. Its shares have dropped 7.2% this year, giving the company a market value of about $150 billion.
The company, along with Tencent Holdings Ltd., was recently blacklisted for alleged links to the Chinese military. CATL said in a statement that it’s not engaged in any military-related activities.
Deal activity in Hong Kong has been picking up as more China domestically listed companies are considering second listings in the city. These include Huawei Technologies Co. partner Seres Group Co., Eastroc Beverage Group Co., and condiment maker Foshan Haitian Flavouring & Food Co., Bloomberg has reported.
–With assistance from Vinicy Chan and Danny Lee.
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