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.

Chinese battery giant Contemporary Amperex Technology’s shares soared Tuesday in their Hong Kong debut, marking the world’s largest equity offering so far this year. A successful listing of CATL, as the company is known,

China's CATL makes more than a third of electric vehicle batteries sold worldwide and also supplies VW and Toyota.