Overview
- CATL priced a Hong Kong share placement at HK$628.20 per share, seeking about $5 billion to support expansion.
- The offering included a Rule 144A tranche for U.S. investors, and media cited unnamed sources who said orders filled in about an hour.
- The fundraising followed a three-year, 60 GWh sodium-ion storage battery order with Haibosichuang that the company announced in Ningde, China.
- CATL called the Haibosichuang order the largest to date for sodium-ion batteries and said it is ready for large-scale delivery.
- The company detailed advances that raise energy density and factory consistency, including particle shape control, surface treatments, angstrom-level pore tuning, molecular water-locking and adaptive formation, and it said the cells match lithium-ion sizes to ease integration.