India, May 12 -- Contemporary Amperex Technology Co. Ltd. (CATL), the world's leading electric vehicle battery manufacturer, is set to limit U.S. participation in its upcoming Hong Kong initial public offering, underscoring growing friction between Washington and Beijing.
The Chinese firm has opted to structure its listing solely under Regulation S, which bars sales to onshore U.S. investors and reduces U.S. regulatory obligations, according to sources familiar with the matter.
While major U.S. institutional investors with offshore accounts can still take part, domestic mutual funds and retail-focused entities will be excluded an unusual step for a deal of this scale. CATL reportedly made the change to reduce legal exposure in the United ...