Burghley Capital Backs Strong Market Debut of CATL in Landmark Hong Kong IPO

Record $5.3 billion market debut highlights robust investor appetite and global strength

Singapore, May 27, 2025- Since the start of 2025, Hong Kong’s financial markets have witnessed a notable revival, exemplified by Contemporary Amperex Technology Co. Ltd. (CATL), the world’s leading electric vehicle battery manufacturer. According to analysis by Burghley Capital, a Singapore-based investment management firm, CATL successfully completed its secondary listing, raising USD 5.3 billion after the full exercise of the green shoe option, setting a significant benchmark for the Hong Kong market.

Burghley Capital reports the IPO initially offered 265.85 million shares priced at USD 17.16 (HKD 134.50) each, generating USD 4.6 billion. Strong investor response prompts underwriters to fully exercise the over-allotment option, adding 39.88 million shares and increasing the total raised to USD 5.3 billion. Shares surged by 16% on debut, closing at USD 39.06 (HKD 306.20), notably outperforming Shenzhen-listed counterparts priced around USD 33.57.

James Barker, Director of Private Equity at Burghley Capital, notes remarkable investor demand, with the institutional tranche oversubscribed 15.2 times and the retail tranche oversubscribed 151 times. Retail investors faced only a 10% probability of securing shares. On its debut, the stock emerged as the second most actively traded on the exchange, recording volumes of USD 956 million.

CATL holds an impressive 38% global market share in electric vehicle batteries, up from 36% over the preceding 12-month period. Barker highlights the company’s strategic advantage: “Consistent growth in global market share significantly boosts investor confidence, supported by partnerships with automotive leaders including Volkswagen, Stellantis, and BMW.”

IPO proceeds will primarily fund CATL’s international growth, particularly its USD 8.09 billion battery manufacturing facility in Debrecen, Hungary. Scheduled to start operations later this year, the facility will significantly enhance European production capacity, initially supplying batteries to major automotive clients like Mercedes-Benz, BMW, and Stellantis.

Europe remains pivotal to the company’s expansion, contributing USD 15.37 billion in international revenue in fiscal 2024, representing approximately 30.48% of total revenue. Barker notes, “Europe presents substantial growth opportunities aligned with the company’s ambition to diversify its global footprint.”

Despite geopolitical challenges, notably the Pentagon’s recent classification linking the company to China’s military—which the firm categorically denies, stating clearly it has “never engaged in any military-related activities”—market confidence remains robust.

Burghley Capital further highlights the positive impact on Hong Kong’s financial markets. The Hang Seng Index rose about 1.5% on listing day, sustaining strong performance in subsequent sessions. Year-to-date trading volumes increased notably by 145% compared to the same period last year, reflecting renewed market optimism following this successful listing.

Hong Kong Exchanges and Clearing confirms heightened interest from over 40 mainland-listed companies preparing secondary listings. Barker concludes, “This IPO has revitalised Hong Kong as a premier global financial centre, setting a strong precedent for future listings.”

About Burghley Capital

Established in 2017, Burghley Capital Pte. Ltd. (UEN: 201731389D) is a distinguished global investment management firm headquartered in Singapore, specialising in long-only asset management strategies. The firm provides meticulous analytical insights, customised investment strategies, and dedicated financial advisory services, consistently delivering exceptional returns and financial resilience for institutional investors and affluent private clients globally. Further information is available at https://burghleycapital.com/resources. Media enquiries should be directed to Martin Wei at or via https://burghleycapital.com.

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