If the listing is successful, it would mark Hong Kong’s largest share sale since early 2021, the Bloomberg report stated.

CATL is one of Tesla Inc’s (NASDAQ:TSLA) biggest battery suppliers.

CATL is in talks with potential advisers, with the listing potentially happening in the first half of 2025, the report said. The move would surpass Midea Group Co’s (SZ:000333) $4.6 billion share sale in September, currently the city’s biggest since Kuaishou Technology (HK:1024) raised $6.2 billion in 2021.

The deliberations are ongoing, and the plans could change, according to the report. Any listing would require approval from China’s securities regulator.

CATL, which trades on the Shenzhen stock exchange has a market capitalization of 1.2 trillion yuan ($164 billion).

A Hong Kong listing would underscore CATL’s global ambitions and could tap into the city’s revitalized equity markets, according to the report.

However, CATL’s Shenzen-listed shares were 1% lower, in line with broader Chinese markets.

If finalized, the $5 billion listing would further solidify the company’s position as a key player in the global EV supply chain and a dominant force in the battery market, the report added.