Chinese battery giant CATL is expected to raise at least $5 billion in a Hong Kong listing, according to two sources with direct knowledge of the matter. CATL did not immediately respond to a request for comment from Reuters.

The decision aligns with recent actions by the US to classify CATL as a company associated with the Chinese military establishment.

Chinese battery giant Contemporary Amperex Technology Co. (SZ:300750), or CATL, is reportedly preparing to file for a Hong Kong listing this week, aiming to raise at least $5 billion. According to sources cited by Reuters,

China's battery giant CATL has applied to list on the Hong Kong Stock Exchange, the exchange's website showed on Tuesday.

Contemporary Amperex Technology Co. Ltd. is considering filing its application for its jumbo Hong Kong listing as soon as this month or early March, people familiar with the matter said.