JPMorgan, Bank of America underwrite CATL IPO despite Pentagon military designation
JPMorgan and Bank of America have underwritten a significant IPO for CATL, a Chinese battery manufacturer, despite its designation as a military-linked company by the Pentagon. Congressional investigators are now looking into the actions of these banks following warnings about national security risks. The IPO raised approximately $5.2 billion, raising concerns about the implications of financial support for a company flagged for its connections to the Chinese military.
- ▪JPMorgan Chase and Bank of America served as book-runners for CATL's Hong Kong secondary listing.
- ▪The IPO raised approximately $5.2 billion in May 2025.
- ▪The US Department of Defense designated CATL as a military-linked firm on January 7, 2025.
- ▪Congress warned the banks about national security risks associated with CATL's operations.
- ▪The House Select Committee on the Chinese Communist Party is investigating the banks' involvement.
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JPMorgan, Bank of America underwrite CATL IPO despite Pentagon military designation Congressional investigators subpoena major US banks after they helped a Chinese battery giant raise $5.2 billion despite being flagged as a military-linked company. Share Add us on Google by Editorial Team May. 21, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); Three of Wall Street’s biggest names helped a Chinese battery manufacturer raise…
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