By Yantoultra Ngui

SINGAPORE, April 22 (Reuters) - A unit of Sinopec

sold 8.5 million Hong Kong-listed shares of CATL

for about $770 million, a term sheet showed on

Wednesday, cashing in on the Chinese electric-vehicle battery

maker's sizzling stock market performance.

Sinopec (Hong Kong) sold the shares in an accelerated

bookbuild at HK$708 ($90.41) apiece, a discount of about 3.8% to

Contemporary Amperex Technology Co Ltd's (CATL)

Tuesday closing price, the term sheet reviewed by Reuters

showed.

The Sinopec unit also agreed to a 90-day lock-up on its

remaining stake in CATL, the term sheet showed. Goldman Sachs ( GS )

was the sole placing agent, according to the term sheet.

Sinopec and CATL did not immediately respond to requests for

comment.

The 8.5 million shares sold represent about 5.5% of CATL's

Hong Kong shares in issue. Sinopec (Hong Kong) held about a

9.45% stake in CATL's Hong Kong share capital, LSEG data showed.

The selldown comes after CATL's Hong Kong-listed shares

nearly tripled from their HK$263 listing price in May 2025 to

HK$736 on Tuesday. It has jumped 46.9% year-to-date, giving it a

market capitalisation of $304 billion, LSEG data showed.

CATL is one of the world's largest electric-vehicle battery

makers and supplies automakers including Tesla, BMW, Volkswagen,

Xiaomi and Nio.

The company raised about $4.6 billion in its Hong Kong

listing, the world's largest listing that year, and said most of

the proceeds would be used to fund a battery plant in Hungary as

part of its overseas expansion.

In March, CATL reported fourth-quarter and full-year 2025

net profit that beat market estimates.

Earlier this month, Reuters reported that CATL was exploring

a Hong Kong equity fundraising that could raise about $5

billion, citing sources, with the timing, size and structure of

any deal still under review.

($1 = 7.8308 Hong Kong dollars)

(Reporting by Yantoultra Ngui; Editing by Christian

Schmollinger and Muralikumar Anantharaman)