By Nur Hikmah Md Ali
Publication Date: 2025-11-19 23:53:00
CATL booth is seen during the 21st Shanghai International Automobile Industry Exhibition (Auto Shanghai 2025) at the National Exhibition and Convention Center (Shanghai) on April 26, 2025 in Shanghai, China.
Vcg | Visual China Group | Getty Images
The Hong Kong-listed shares of China’s CATL, the world’s largest battery maker, fell as much as 8.75% Thursday as investors sought to lock in profits, following the expiry of a six-month sales restriction on about 77.5 million shares held by early stakeholders.
The 23 cornerstone investors include Sinopec HK, Kuwait Investment Authority and UBS Asset Management, according to the company’s prospectus.
CATL’s IPO in May raised HK$35.7 billion ($4.6 billion) according to a company filing, reportedly making it the largest offering this year globally, as investors bet on the company’s ability to ride the boom in electric vehicles. CATL shares on the Shenzhen stock exchange were also down 2.59%.
CATL’s shares were last trading 6.56% lower.
Hong Kong’s Hang Seng Index reversed course to fall 0.47%, while the mainland CSI 300 was down 0.32%.
Other markets across the region also rose, boosted by a rally in chip shares after Nvidia‘s stronger-than-expected earnings and bullish forecast appeared to reinforce confidence in the global AI trade.
Shares of the chip giant jumped more than 4% in extended trading after its fiscal third-quarter earnings beat earnings and revenue expectations. The AI chip darling also gave a…
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