AsianFin -- Chinese battery giant Contemporary Amperex Technology Co. Ltd. (CATL) is preparing to kick off its long-awaited Hong Kong listing as early as next week, according to two people with direct knowledge of the matter—marking what could be the city’s biggest equity offering in four years.

Bookbuilding for the deal, which allows institutional investors to submit bids for shares ahead of the official pricing, is expected to begin on Tuesday or Wednesday, the sources said. They requested anonymity as the information remains confidential.

Reuters previously reported that the listing could raise at least $5 billion, citing people familiar with the transaction. The deal would mark a major milestone for Hong Kong’s capital markets, which have seen a slowdown in major IPO activity since 2021.