CATL to Raise About HK$39 Billion via Major H-Share Placement
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Contemporary Amperex Technology Co., Limited Class H ( (HK:3750) ) has shared an announcement.
Contemporary Amperex Technology Co., Limited has entered into a placing agreement with a syndicate of international banks to issue 62,385,000 new H shares at HK$628.20 each to at least six independent institutional or professional investors. The new shares represent about 40.01% of existing H shares and 1.38% of total issued shares, with no shareholder approval required as the issuance falls under an existing general mandate.
The placement is expected to raise gross proceeds of about HK$39.19 billion, with estimated net proceeds of roughly HK$39.11 billion after fees, implying a net issue price of HK$626.92 per share. Completion remains conditional on the terms of the placing agreement and may not proceed, so the company has cautioned shareholders and potential investors to be prudent when dealing in its shares.
The most recent analyst rating on (HK:3750) stock is a Buy with a HK$925.00 price target. To see the full list of analyst forecasts on Contemporary Amperex Technology Co., Limited Class H stock, see the HK:3750 Stock Forecast page.
More about Contemporary Amperex Technology Co., Limited Class H
Contemporary Amperex Technology Co., Limited is a leading Chinese battery manufacturer listed in Hong Kong, operating in the new energy and electric vehicle supply chain. The company focuses on developing and producing advanced lithium-ion batteries and related energy storage solutions for automotive and other industrial applications.
Average Trading Volume: 3,159,650
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$2368.2B
For detailed information about 3750 stock, go to TipRanks’ Stock Analysis page.
