Shares in Contemporary Amperex Technology Co. fell after a major shareholder moved to cut his stake in the company, adding to worries about energy-storage systems as US lawmakers pushed to curb imports of Chinese-made grid components.
CATL’s Shenzhen-listed shares dropped as much as 5.4% on plansBloomberg Terminal by the company’s third-largest shareholder, Huang Shilin , to sell 1% of his holdings to institutional investors, according to an exchange filingBloomberg Terminal on Friday. The company’s Hong Kong-listed stock, which debuted in May and trades at roughly a 20% premium to the onshore shares, also slipped ahead of a Nov. 19 lock-up expiryBloomberg Terminal on 77.5 million shares held by cornerstone investors.
CATL Shares Drop as Stake Sale, US Scrutiny Weigh on Sentiment
