CATL (Contemporary Amperex Technology Co. Ltd), the world’s largest EV battery maker, has launched a $5 billion share placement in Hong Kong. The move follows a flurry of shareholder activity, including a Sinopec unit selling $770M of CATL stock at HK$708 on 22 April and a Shenzhen block trade of 58 million A-shares at a 5.1% discount. If completed, it would be the largest new share sale in HK Kong in approximately four years, since Kuaishou Technology raised $6.2 billion in its 2021 initial public offering. The funds raised will be used to fund the construction of a 7.3 billion-euro battery plant in Hungary. The company also supplies Tesla, Stellantis, BMW, Volkswagen, and Xiaomi, and Nio.