China's CATL raises $6.7 billion in private placement - sources

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HONG KONG :China's CATL, the world's largest battery maker, has priced its shares at 410 yuan ($61.07) each in a private placement to raise $6.7 billion, according to two sources with direct knowledge of the matter.The sources could not be named as the information had not yet been made public. CATL d

HONG KONG :China's CATL, the world's largest battery maker, has priced its shares at 410 yuan each in a private placement to raise $6.7 billion, according to two sources with direct knowledge of the matter.CATL did not immediately respond to a request for comment outside of normal Chinese business hours.

It will be the second largest equity capital markets transaction in the world so far in 2022, based on Refinitiv data. The cash will be used to fund expansion of its domestic manufacturing plants and enhancing its research and development, according a term sheet for the deal seen by Reuters.

 

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