Contemporary Amperex Technology Co Ltd, the world’s largest maker of batteries for electric vehicles, began gauging investor interest for a share sale that may fetch $5 billion and will probably be the Hong Kong Special Administrative Region’s biggest listing in years.

CATL, as the Chinese mainland electric-vehicle battery giant is known, launched its investor education meetings on Tuesday, according to terms of the deal seen by Bloomberg.

The Hong Kong trading debut will likely occur as early as this month, people familiar with the matter said, asking not to be identified because they weren’t authorized to speak publicly.

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The company is barreling ahead with the offering in spite of US President Donald Trump’s tariffs having roiled global markets.

At $5 billion, CATL’s listing would be the world’s biggest since cold-storage real estate investment trust Lineage Inc.’s $5.1 billion deal last year, and Hong Kong’s largest since Kuaishou Technology’s $6.2 billion offering in 2021, according to data compiled by Bloomberg.

Hong Kong listings have raised $2.7 billion so far this year, according to data compiled by Bloomberg. CATL’s expected proceeds would nearly triple that figure, and other big deals like that of drugmaker Jiangsu Hengrui Pharmaceuticals Co are also under way. Hong Kong listing proceeds could more than double to $22 billion this year, according to Bloomberg Intelligence estimates.

CATL in April reported a solid set of results for the first quarter, with net income growing at the fastest pace in nearly two years. Executives at CATL, a top supplier to Tesla Inc and many other large automakers, described the impact of US tariffs as “little” and said the company’s US exposure was “quite small.”

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CATL’s share sale will feed into its ongoing international expansion in Europe, where much of the funds raised will be funneled to completing a factory capable of producing 100 gigawatt-hours annually in Hungary to supply top tier clients like Mercedes-Benz. The company has a market share of roughly 38 percent, while EV maker BYD Co, which mostly makes cells for its own cars, is a distant second at about 17 percent.

Separately, the company is seeking a loan of about $1 billion to fund an investment in Indonesia, according to people familiar with the matter.

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CATL’s shares have fallen 12 percent this year in Shenzhen, compared with a 3.4 percent decline in the CSI 300 Index.