CATL's shares fall amid $5bn placement

Chinese electric vehicle giant Contemporary Amperex Technology Co. (CATL) has entered into an agreement with six investors (whose beneficial owners will be independent third parties) to subscribe for 62,385,000 placing shares at the placing price of HK$628.20 ($80.2) per placing shares, raising HK$39.2 billion ($5 billion), according to a April 28 Hong Kong Stock Exchange (HKEX) announcement.