CATL Raises $5 Billion in HK Share Placement Priced at Low End

Contemporary Amperex Technology Co. Ltd., the world’s biggest battery maker, has raised $5 billion after pricing a Hong Kong share placement at the bottom of a marketed range.

The Chinese company sold the shares at HK$628.20 apiece, a 7% discount to its previous closing price, according to a filing Tuesday. It offered the shares at HK$628.20 to HK$651.80 each in a deal that marks the largest share offering yet this year in Hong Kong. More than 150 entities placed orders, including hedge funds, sovereign-wealth funds and existing shareholders, people familiar with the matter have said. The stock fell as much as 9.2% to HK$613.50 on Tuesday.