On June 11, Contemporary Amperex Technology Limited (CATL) officially went public on Shenzhen Stock Exchange. Immediately after its listing, the company’s shares rose by 20.01%. As of 10 am, its stock price closed at 36.20 RMB, up by 43.99% compared with its issuing price. Thus, CATL’s market value reaches 78.6 billion RMB.

At 9 am on June 11, CATL officially went public on Shenzhen Stock Exchange with an issuing price of 25.14 RMB and a total market value of 54.6 billion RMB.

Zeng Yuqun, one of the founders of CATL, holds 26.31% shares of CATL and is the biggest shareholder of the company.

As is revealed in CATL IPO Prospectus, CATL is specialized in developing and producing power batteries. In 2017, CATL ranked the first place in the global power battery sales after overtaking Panosonic and BYD.

So far, CATL has made deals with Daimler, BMW, Volkswagon and several other EV brands from Europe. Recently, it successfully secured a deal with Japan-based Nissan for providing the automaker power batteries.(www.chinabuses.org)

Source : www.chinabuses.org

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