CATL stock exchange looks increasingly timid
The plans for the stock exchange entry by Chinese battery cell manufacturer Contemporary Amperex Technology (CATL) are becoming more pronounced: The company starts accepting subscriptions from potential investors on Wednesday.
CATL has however reigned back their efforts for the stock market entry – the company is expecting investment around 850 million dollars, instead of the 2 billion dollars mentioned previously. The company announced yesterday that they will be selling a 10 percent stake at 25.14 yuan a share. That translates to about 3,40 euros. In total, this would make for a 8.5 billion dollar value of the corporation.
The stock market entry is being used to finance CATL’s intended expanded production capacity towards about 50 GWh by 2021. In the last weeks and months, the supplier has been busy signing a number of supply agreements, including with Renault and Nissan, Volkswagen, PSA, BMW and Daimler. Furthermore, it was announced that CATL would be cooperating with Honda to produce a compact EV based on the Honda Fit.
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