Stock prices for CATL skyrocket by approximately 6% in Hong Kong, reaching a new peak level.
CATL's Skateboard Chassis Business Secures RM 2 Billion Yuan ($280 Million) in Funding
Contemporary Amperex Technology Co. Limited (CATL), a Chinese battery company listed on the Hong Kong stock exchange (HKG: 3750), has made a significant stride in its skateboard chassis business with the successful completion of its first external financing round. The financing round, valued at RM 2 billion yuan ($280 million), marks a milestone for the skateboard chassis business and a vote of confidence in its potential.
According to the report, the pre-investment valuation of the company, Contemporary Amperex Intelligence Technology (Shanghai) Limited (CAIT-SH), is approximately 9 billion yuan. Since its debut on the Hong Kong stock market on May 20, CATL's share price has been on a steady rise, increasing by 71 percent compared to its offering price of HK$263. As of now, the share price stands at HK$449.4.
The funding round for CAIT-SH is the first external financing round reported for the skateboard chassis business. The company funded by CATL in this round is Farasis Energy, and the next announcement from CATL is expected in the first quarter of 2024.
The financing round is expected to support the growth and expansion of the skateboard chassis business. CATL's skateboard chassis business has been growing rapidly, and this funding will undoubtedly accelerate its development.
In other news, CATL is expected to announce its interim results on July 30. The company has seen a surge in its share price, up 6.15 percent, indicating a positive outlook for the company.
The financing round for CAIT-SH marks a significant step in the development of the skateboard chassis business and is the latest development in the growth of CATL's skateboard chassis business. The success of this financing round underscores the potential of the skateboard chassis business and the confidence investors have in CATL's ability to drive its growth and expansion.
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