China’s CATL Is Said to Pick Banks for $5 Billion Swiss GDR Sale
- Company working with China Securities, CICC on offering
- CATL also tapped Goldman Sachs and UBS for receipt sale
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Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of batteries for electric cars, has chosen banks for its sale of global depositary receipts in Switzerland to raise at least $5 billion, according to people familiar with the matter.
The Chinese giant is working with China International Capital Corp. and China Securities International on the share sale, the people said, asking not to be identified as the information is private. CATL has also picked Goldman Sachs Group Inc. and UBS Group AG for the GDR sale, the people said.