Shares in CATL closed 16% higher on their Hong Kong debut on Tuesday after the Chinese electric vehicle battery giant raised $4.6 billion in the world's largest listing this year, boosting prospects for equity sales by Chinese companies.

Shares of the company, CATL, surged in their first day of trading. Onshore U.S. investors were blocked from buying its stock as a “decoupling” of finance continued.

CATL, which produces more than a third of all electric vehicle batteries sold worldwide, raised US$4.6 billion in Hong Kong.