-- Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, is mulling a share placement to raise up to $5 billion in Hong Kong, Bloomberg News reported Monday, citing people familiar with the matter.
CATL's Hong Kong shares slumped over 6% and Shenzhen shares fell over 2% during Tuesday's morning trade.
Preliminary negotiations for the placement were already held with banks as the Chinese battery maker seeks to supplement some of its funding needs through a convertible bond sale, the report said.
CATL, which posted a better-than-expected profit a year earlier, saw its shares soar by around 160% since it listed on the Hong Kong bourse in May 2025, the report said.
The company is yet to respond to' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)