The battery giant’s Hong Kong IPO has put big American banks in Washington’s crosshairs.
A CATL booth at the International Digital Energy Exhibition, in Shenzhen, June 29, 2023. Credit: CATL
Top U.S. investment banks are in line for a big payday in Hong Kong this year, thanks to their involvement in underwriting the planned initial public offering of Chinese battery giant CATL. The deal, expected to raise more than $5 billion, is set to be one of the biggest the city’s bourse has seen for years.
Back home, though, they are catching some political heat.
A document submitted by CATL to the Hong Kong Stock Exchange announcing coordinators for the company's planned initial
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