CATL Share Sale’s Tightening Discount Shows China Tech Momentum
Contemporary Amperex Technology Co.'s share sale at a reduced discount shows strong investor demand for Chinese tech stocks. The sale of 58 million shares was oversubscribed, with demand more than twice the available supply.
Contemporary Amperex Technology Co. (CATL) sold 58 million shares at a 5.1% discount, with demand exceeding twice the available supply. The sale was priced at 410.34 yuan per share following bids from 50 institutional investors. This discount is narrower than the 6.9% discount in a similar transaction in November. CATL shares rose as much as 6.1% to a record in Hong Kong and traded 2.4% higher in Shenzhen. The sale represents 1.27% of CATL's total shares. The strong demand underscores investor appetite for Chinese technology stocks despite CATL's 20% rally this year.
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