CATL Share Sale’s Tightening Discount Shows China Tech Momentum

A sale of Contemporary Amperex Technology Co.’s shares disclosed on Monday— priced at a 5.1% discount — was more than twice subscribed. That underscores strong investor appetite for the stock even after the battery maker’s 20% rally this year.

The inquiry‑based sale of 58 million shares, or 1.27% of CATL’s total shares, was priced at 410.34 yuan apiece on Monday following bids from 50 institutional investors, according to a filing with the Shenzhen Stock Exchange. That compares with a 6.9% discount in a similar transaction in November. CATL shares surged as much as 6.1% to a record in Hong Kong and traded as much as 3.6% higher in Shenzhen following the announcement of the details of the deal worth 23.8 billion yuan ($3.6 billion).