What In Tarnation? A Share Sale Bigger Than My Appetite!
Well now what have we here? Seems this here CATL a big ol' battery maker from China is tryin' to wrangle up a whole heap of cash in Hong Kong. We talkin' 'bout at least HK$31.01 billion – that's nearly $4 billion in good ol' American greenbacks! And they call *me* a swamp monster! This is the biggest new share sale in Hong Kong this year I reckon. Shrek is impressed. And you know I have high standards I need my privacy my swamp and my quiet time!
Cornerstone Investors? Sounds Like a Rock Band!
Apparently they're sellin' off 117.9 million shares at a price that could be as high as HK$263 each. And get this – some bigwig investors like Sinopec and the Kuwait Investment Authority are already lining up to slap down about $2.62 billion! That's more than enough to buy a whole kingdom or at least a really really big swamp. If I had this amount I would even consider getting a Donkey proof fence.
Greenshoe Option? Is That Some Fancy Ogre Footwear?
Now they got somethin' called an 'offer size adjustment option' and a 'greenshoe option.' Sounds like somethin' you'd find in a fancy shoe store but apparently it means they could sell even MORE shares. We're talkin' a potential total haul of $5.3 billion! That's enough to make even Lord Farquaad jealous! I am not jealous I have my own kingdom to worry about.
A Discount? Now You're Talkin' My Language!
Them shares are supposed to be priced sometime between Tuesday and Friday and they say the Hong Kong shares will be sold at a bit of a discount compared to what they're goin' for in Shenzhen. A discount you say? Now you're talkin' my language! Shrek like discount! Shrek like money! It is good to be green!
Trade War? More Like Trade Sore!
But hold your horses folks. There's a bit of a ruckus brewin' between the U.S. and China. Seems this CATL company is on some U.S. Defense Department list claimin' they're workin' with the Chinese military. CATL says it's just a 'false designation' and it shouldn't stop 'em from doin' business with most folks. But this darn US China trade war is really a sore in my ogre bottom! I keep telling them be best friends be best friends!
Tariffs? I Prefer Waffles!
And then there's them tariffs! Washington's got a 145% tariff on Chinese goods and Beijing's got a 125% tariff on U.S. goods. CATL says they can't rightly say what kinda impact these policies will have on their business but they're keepin' a close eye on things. Hopefully it all blows over soon. I prefer waffles!
CATL Hong Kong IPO electric vehicles battery technology Sinopec Kuwait Investment Authority US-China trade war tariffs Midea Group Defense Department list
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oreo5560
I hope they got enough room in their treasury for all that shinin' treasure!
kidage
Is there a swamp discount?
roguelilly
They should build a castle out of batteries.
tampoe
Sounds like someone's gonna be eatin' high on the hog!
gbelote
Ogres have layers. So does this IPO, apparently.
lwelizabeth
I bet Lord Farquaad is seething with envy.