Hedge Fund Short Covering Fuels Demand in $5 Billion CATL Deal

Hedge funds bought the bulk of the shares in Contemporary Amperex Technology Co. Ltd.’s $5 billion placement, with at least some of the demand driven by traders seeking to cover...

By Bei Hu, Julia Fioretti, Charlotte Yang, Dave Sebastian · Bloomberg Markets

Hedge funds bought the bulk of the shares in Contemporary Amperex Technology Co. Ltd.’s $5 billion placement, with at least some of the demand driven by traders seeking to cover short positions on the battery maker’s Hong Kong-listed shares, according to people with knowledge of the matter.