The electric vehicle battery manufacturing giant, Contemporary Amperex Technology Co Ltd (CATL), is reportedly contemplating a secondary listing in Hong Kong. If successful, the listing could generate a minimum of $5 billion, according to inside sources reported by Bloomberg.

This move would make it the largest share sale in Hong Kong since the start of 2021, as per the Bloomberg report. Notably, CATL is a primary battery provider for Tesla Inc., which further emphasizes the magnitude of this potential listing.

The battery manufacturer is reportedly in discussions with prospective advisors for a potential listing, which might take place in the first half of 2025. If this goes through, it would outdo Midea Group Co’s share sale of $4.6 billion in September, which is presently the city’s largest since Kuaishou Technology raised $6.2 billion in 2021.

The plans are still under deliberation and subject to change, the report stated. It’s important to note that any listing would need the green light from China’s securities regulator.

Currently, CATL, which is listed on the Shenzhen stock exchange, boasts a market capitalization of roughly 1.2 trillion yuan (equivalent to $164 billion). This potential Hong Kong listing would highlight CATL’s global aspirations and might leverage the rejuvenated equity markets of the city, the report suggests.

Despite this news, CATL’s shares listed in Shenzen saw a 1% drop, which is consistent with the overall Chinese markets. However, if the $5 billion listing comes to fruition, it would further cement CATL’s position as a formidable player in the worldwide EV supply chain and the battery market.

This story is a must-follow for potential investors or anyone keen on the global expansion of electric vehicle technology.