The Chinese battery giant is planning to raise as much as US$4.0 billion in the year’s biggest listing in Hong Kong.

Chinese battery maker CATL aims to raise at least $3.99 billion in its Hong Kong listing, marking the largest new share sale in the city this year, according to Reuters. The deal could grow to $5.3 billion if the offer size adjustment and greenshoe options are exercised.

Chinese battery giant CATL is poised to raise at least HK$31.01bn ($3.99bn) in a Hong Kong listing. The EV battery manufacturer plans to offer 117.9 million shares at a maximum price of HK$263 each. The listing could potentially swell to around $5.