Chinese battery firm CATL aims to raise $5 bln in Swiss listing -sources [Reuters]
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Source: Reuters
The size of the deal could increase to $8 billion if financial market conditions improved before the deal is launched, the sources added. The sources could not be named as the information had not yet been made public. CATL, which is Contemporary Amperex Technology Co, declined to comment on the transaction. The exact size and timing of the deal is subject to financial market conditions, the sources added. At $5 billion, the deal will easily be the largest GDR by a Chinese company in Switzerland, according to Refinitiv data. GDRs represent shares in a foreign company but are traded locally on an exchange. News of the planned listing was first reported by IFR on Wednesday. Nine Chinese companies raised $3.3 billion in 2022 in Switzerland, the data showed. CATL, which supplies automakers including Tesla (TSLA.O) , Volkswagen (VOWG_p.DE) , BMW (BMWG.DE) and Nio, in June last year raised $6.7 billion in a private placement which was one of the world's largest equity capita
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