The world’s biggest IPO this year excludes U.S. onshore investors. The decision reduces geopolitical risks that loom over Chinese battery maker Contemporary Amperex Technology's $4 billion Hong Kong debut.

HONG KONG (Reuters) -Investment banks handling the world's largest listing so far this year are set to earn underwriting fees well below the industry norm, with advisers willing to endure skinny margins to win business following a prolonged slump in listings.

SYDNEY (Reuters) -Chinese battery maker CATL is set to price its shares at HK$263 ($33.70) each in the company's Hong Kong listing, according to two sources with direct knowledge of the matter, raising at least $4 billion.

SYDNEY: Chinese battery maker CATL is set to price its shares at HK$263 ($33.70) each and increase the size of the company's Hong Kong listing, according to two sources with direct knowledge of the matter, raising about $4.6 billion.

This week, CATL, a leading domestic lithium battery company, launched its Hong Kong IPO, heating up the lithium battery sector.

Investment banks managing Tesla (NASDAQ: TSLA) battery supplier CATL's IPO, the world's largest listing of 2025, are set to earn underwriting fees that fall below the industry standard.