CATL completed a new H-share placement, raising HKD39.19 billion on 30 April 2026 in the largest equity placement in the Hong Kong market to date. Llinks Law Offices, Linklaters, CM Law Firm and Kirkland & Ellis acted as legal advisers.
The four firms also advised on CATL’s Hong Kong listing in May 2025.
A total of around 62.39 million new H shares were issued in the placement, representing around 28.58% of CATL’s enlarged total issued H?share capital. The placement price was HKD628.5 per share. BofA Securities, CICC, JP Morgan and Morgan Stanley acted as the placement agents.
Llinks counselled CATL on PRC law, providing comprehensive legal services for the placement and assisting on the filing procedures with the China Securities Regulatory Commission. Partner Grant Chen and contractual partner Rose Cai jointly led the team. Linklaters advised CATL on Hong Kong law, with the team jointly led by Christine Xu, partner and Greater China head of equity capital markets, and Lipton Li, partner in the capital markets practice, as well as support from counsel Samson Chan.
For the placement agents, CM Law Firm acted as PRC special counsel, with Wu Xiaoliang and Wei Wei leading the team. Kirkland & Ellis provided international legal advice. Its team was led by corporate and capital markets partners Lyu Mengyu, Brian Ho, Justin Zhou and Ashlee Wu, with support from government, regulatory and internal investigations partner Jodi Wu.
The company’s announcement states the proceeds from the placement will be used to accelerate the implementation of CATL’s global zero?carbon strategy and support its long?term sustainable development, including investment in overseas new energy projects and zero?carbon business initiatives, research and development, replenishment of working capital and general corporate purposes.
