(Bloomberg) -- Contemporary Amperex Technology Co. Ltd. rose in its Hong Kong trading debut after the Chinese battery giant wrapped up the world’s biggest listing this year by raising HK$35.7 billion ($4.6 billion) despite being blacklisted by the Pentagon and grinding through geopolitical storms.

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Shares of CATL, as the largest maker of electric-vehicle batteries is known, climbed as much as 14% to HK$299.80 as of 10:20 a.m. on Tuesday. Though Hong Kong shares of Chinese companies typically trade at a discount to those in the mainland, CATL soared above its stock price in Shenzhen, where it fell.

For investors, the allure of buying into a blue-chip stock at the forefront of electric-vehicle technology outweighed the risks of getting caught up in the ongoing turbulence in Sino-US relations. The success of the stock offering, which may increase to $5.3 billion if CATL exercises an option to do so, single-handedly doubled Hong Kong’s proceeds from listings this year and could embolden other companies to go public.

CATL is “a true champion enabling the energy transition, a symbol of China’s success as a global green leader,” said Karine Hirn, a partner at East Capital Group.

Priced at around 17 times current earnings multiples, CATL’s Hong Kong shares have room to rise 50%, driven by strong earnings and attractive valuations, said Johnson Wan, head of China industrials research at Jefferies in Hong Kong.

“It’s a no-brainer buy,” said Wan.

CATL supplies batteries to top-tier customers such as Tesla Inc., Volkswagen AG, Ford Motor Co. and Mercedes-Benz Group AG. It has a market share of roughly 38% in electric-car batteries, comfortably ahead of its closest challenger, top EV maker BYD Co.’s 17%, according to SNE Research.

The Ningde, Fujian-based company generated sales of $50 billion and net income of $7 billion last year. And it plans to build on that — recently unveiling batteries that can charge 520km (323 miles) of range in 5 minutes and up to 1,500km on a full charge.

The funding, much of it for a $7.6 billion overseas expansion in Europe, will be used to fuel its growth outside China, where profit margins are juicier.

Its continued growth has enriched its founders, top investors and executives, making them some of the wealthiest people in the world. Four Chinese businessmen, including Chairman Robin Zeng, have amassed a combined fortune of more than $73 billion — mainly derived from their stakes in the company — according to Bloomberg Billionaires Index figures as of Monday.