Chinese electric-vehicle battery maker CATL plans to raise at least $4 billion in what is expected to be Hong Kong’s largest share sale this year, with trading starting on May 20. The listing involves over 20 cornerstone investors, including Sinopec and the Kuwait Investment Authority, and could exceed $5 billion if demand is robust. Despite concerns over US trade tensions and a Pentagon designation linking CATL to the Chinese military, the company asserts it has no military ties and is actively engaging with US authorities to resolve these issues.
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