CATL, China's largest maker of batteries for electric vehicles, could complete a secondary listing in Hong Kong as early as the first half of this year, raising at least $5 billion, according to Bloomberg.

Reports this week said CATL has hired Bank of America (BofA), China International Capital Corp (CICC) and China Securities Co. (CSC) and JPMorgan Chase to lead arrangements for the listing.

Other banks are said to be likely to join in what could be one of the largest IPOs in Hong Kong in recent years and could help the company raise at least $5 billion.

CATL's board of directors approved the secondary listing plan at the end of December 2024, and it is still awaiting approval from shareholders and regulators.