Battery Giant CATL Kicks Off $6.7 Billion Placement
- Company sets floor price at 339.67 yuan per share in sale
- Proceeds will be used to upgrade lithium-ion battery output
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Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of batteries for electric cars, has kicked off an A-share private placement that could raise about 45 billion yuan ($6.7 billion), according to terms of the deal seen by Bloomberg News.
The Ningde, Fujian-based company has set a floor price of 339.67 yuan for the placement, the terms show. It plans to price the share sale on Wednesday, according to people familiar with the matter, who asked not to be identified as the information is private.