Battery giant electrifies market on trading debut

Shares of the world's biggest electric vehicle battery producer surged 44 percent on their debut on Monday, the maximum growth rate set for newly listed stocks on the first trading day.

Contemporary Amperex Technology Ltd expects to cement its place as the global battery leader, eclipsing traditional battery manufacturers such as Japan-based Panasonic Corp and South Korea-based LG Chem Ltd, analysts said.

The unicorn company - a startup with a valuation in excess of $1 billion - raised 5.46 billion yuan ($852 million) in its initial public offering, the largest ever on the Shenzhen Stock Exchange's Growth Enterprise Market.