CATL likely to offer less than 10% discount for $5 billion Hong Kong listing, sources say
HONG KONG (Reuters) -Prospective investors in Chinese battery giant CATL's Hong Kong listing to raise about $5 billion have been told the stock may be sold at a discount of less than 10% to the company's Shenzhen-listed shares, according to three sources with direct knowledge of the matter.
The discount offered could be around mid-single digits, two of the sources added.
CATL is meeting investors ahead of launching the book building for the deal next week that could be the largest new share sale in Hong Kong for four years.
The pricing has not been finalised, the sources said.
CATL wants to have cornerstone and anchor investors subscribe for around half the shares to be sold in the deal, two of the sources added.
The sources could not be named discussing information that has not yet been made public.
CATL did not immediately respond to a request for comment from Reuters.
(Reporting by Summer Zhen and Selena Li in Hong Kong; Writing by Scott Murdoch; Editing by Sonali Paul)
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