The approval clears the way for the Chinese company and its bankers to start arranging meetings soon with investors to gauge demand for the stock and determine details of the deal such as pricing.
Contemporary Amperex Technology Co. Limited (CATL), the top maker of batteries for electric vehicles, won Hong Kong’s approval to proceed with a listing in the city that may fetch at least US$5 billion ($6.64 billion), which may be the world’s biggest such offering this year.
The Ningde, China-based company on Thursday secured approval from the Hong Kong stock exchange, a CATL spokesman said, confirming an earlier IFR report. The listing could come as early as May, according to IFR.
