CATL(SZ:300750) 3 6 Ke·2025-05-16 15:21Group 1 - The core point of the article is that CATL is set to launch the largest IPO in Hong Kong in nearly three years, with plans to raise approximately 307.18 billion HKD (around 290 billion RMB) by issuing 117.9 million H-shares at a maximum price of 263 HKD per share [1] - CATL's IPO will only dilute existing shareholders' equity slightly, with the new shares representing just 2.61% of the expanded share capital [1][2] - The IPO has attracted significant interest from cornerstone investors, with 65.7% of the shares being subscribed by 23 cornerstone investors, including major foreign and domestic institutions [2] Group 2 - Retail investors have shown strong enthusiasm, with total subscription amounts exceeding 1.4 trillion HKD (approximately 1.292 trillion RMB), indicating high demand for CATL's shares [2] - CATL plans to allocate 90% of the funds raised from the IPO to the construction of its energy storage projects in Hungary, with a total planned investment of approximately 7 billion euros (around 56 billion RMB) [3] - The European market presents a unique opportunity for CATL, as there are currently no strong local battery manufacturers, positioning CATL as a key player in the region [4] Group 3 - The successful IPO of CATL may create challenges for other battery manufacturers in Hong Kong, as the increased market attractiveness of CATL could make it more difficult for smaller firms to secure financing [5]