Chinese EV battery giant CATL aims to raise $4 bil in Hong Kong IPO

Chinese EV battery giant CATL aims to raise $4 billion in its Hong Kong listing scheduled for May 20, said a statement filed to the bourse Monday, making it the largest IPO expected in the city so far this year. The United States House Select Committee on the Chinese Communist Party highlighted this inclusion in letters to two American banks in April, urging them to withdraw from the IPO deal with the "Chinese military-linked company". According to Bloomberg, CATL plans to make the deal as a "Reg S" offering, which doesn't allow sales to US onshore investors, limiting the company's exposure to legal risks in the United States.