SYDNEY/BEIJING - The Chinese mainland's battery giant CATL said it had received approval from the nation's securities regulator for a share sale in the Hong Kong Special Administrative Region that sources have said could raise at least $5 billion, the largest listing in the city for four years.

The Shenzhen-listed firm plans to issue not more than around 220 million shares on the Hong Kong Stock Exchange, it said in a statement on Tuesday.

The raising, if in line with the amount expected by the two sources with direct knowledge of the matter, would be the largest in Hong Kong since Kuaishou Technology's $6.2 billion initial public offering in 2021, according to Dealogic data.

CATL did not immediately respond to a request for comment from Reuters on the deal's size.

The company said in its Hong Kong Stock Exchange listing application in February that part of the funds raised will be used to build a 7.3 billion-euro ($7.53 billion) battery plant in Hungary.

READ MORE: CATL files for Hong Kong listing that could raise $5 billion

Firms on the mainland have raised $23.6 billion worth of equity capital globally so far in 2025, up 208 percent on the same time last year, according to LSEG data.