Chinese battery giant CATL has started the process to list in Hong Kong by lodging its filings with regulators in a deal that is expected to raise at least $5 billion, according to two sources with direct knowledge of the matter.

Chinese battery giant CATL started the application process on Tuesday to be listed in Hong Kong and named seven banks as overall coordinators, according to stock exchange filings. CATL said in another exchange filing dated Tuesday that it had appointed overall coordinators and listed seven financial institutions.

Chinese battery maker CATL is preparing to submit an application for a listing on the Hong Kong stock exchange this week, reported Reuters citing two undisclosed sources.

HONG KONG : Chinese battery giant CATL started the application process today to be listed in Hong Kong and named seven banks as overall coordinators, according to stock exchange filings.

CATL is also listed on the Shenzhen stock exchange, boasting a market cap of $150.5 billion. The battery giant supplies big automakers like Tesla.