CATL likely to offer less than 10% discount for $5 billion Hong Kong listing, sources say
By Summer Zhen and Selena Li
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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Erich brings with him over 25 years of global experience in driving development, operations and project execution at scale across multiple continents. Erich's career originated as a Petroleum Engineer with BP plc on the North Slope of Alaska, with vast experience in the North Sea, Azerbaijan and the U.S., with his BP career culminating as a VP of Production and Operations. Erich joins Pantheon most recently from Microsoft, where he served as a Partner leading digital transformation across the manufacturing and energy sectors. Max Easley, Chief Executive Officer, commented: "We are delighted to welcome Tralisa and Erich to the Pantheon Executive Team. They will be key in enacting our pivot from a world-class exploration and appraisal team to an equally successful development and operations team. Pantheon will benefit from a combined 50 years of international experience between the two. I also want to thank Phil Patman for his efforts in delivering a strong financial platform for growth through this transition and an ultimate US listing." David Hobbs, Pantheon's Chairman, added: "I would like to add my welcome to Tralisa and Erich. In addition, I also want to express my personal gratitude to Bob Rosenthal, who has been a key member of the leadership of the Company. He was a founder of Pantheon some 20 years ago, then became a founder of Great Bear a few years later. Bob returned to Pantheon 7 years ago to help with the acquisition of Great Bear and then lead the technical team through the journey of discovering and appraising the Ahpun and Kodiak fields to demonstrate the potential for resources that are now independently certified at some 1.6 billion barrels of ANS Crude and 6.6 tcf of natural gas. His leadership has helped position the Company to be a significant part of Alaska's energy future." 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The following details in relation to the appointment of Tralisa Maraj are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules: Tralisa Sita Maraj (aged 50) has held the following directorships and/or partnerships in the past five years: Current directorships or partnerships Previous directorships or partnerships Aliana Consulting LLC All About the Blade MJ LLC Cyber App Solutions Corp (trading as Proton Green) LiveWire EV LLC LiveWire France SAS LiveWire Germany GMBH LiveWire Motorcycles Canada Inc LiveWire Netherlands BV LiveWire Switzerland GmbH LiveWire UK Ltd StaCyc LLC Stratovate Ventures & Solutions Group LLC The Rusty Hook Galveston LLC TMJ Realty Group LLC CGX Energy Management Corp. CGX Resources Inc. GCIE Holdings Ltd Grand Canal Industrial Estates Inc. ON Energy Inc. There is no further information to be disclosed in relation to the appointment of Tralisa Maraj pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies. -ENDS- For further information, please contact: UK Corporate and Investor Relations ContactPantheon Resources plcJustin Hondris+44 20 7484 5361contact@ Nominated Adviser and BrokerCanaccord Genuity LimitedHenry Fitzgerald-O'Connor, James Asensio, Charlie Hammond+44 20 7523 8000 Public Relations ContactBlytheRayTim Blythe, Megan Ray, Matthew Bowld+44 20 7138 3204 USA Investor Relations ContactMZ GroupLucas Zimmerman, Ian Scargill+1 949 259 4987PTHRF@ About Pantheon ResourcesPantheon Resources plc is an AIM-listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf (trillion cubic feet) of associated natural gas. The Company owns 100% working interest in c. 259,000 acres. Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028. This is based on bringing the Ahpun field forward to FID and producing into the TAPS main oil line (ANS crude) by the end of 2028. The Gas Sales Precedent Agreement signed with AGDC (Alaska Gasline Development Corporation) provides the potential for Pantheon's natural gas to be produced into the proposed 807-mile pipeline from the North Slope to Southcentral Alaska during 2029. Once the Company achieves financial self-sufficiency, it will apply the resultant cashflows to support the FID on the Kodiak field planned, subject to regulatory approvals, targeted by the end of 2028 or early 2029. A major differentiator to other ANS projects is the close proximity to existing roads and pipelines which offers a significant competitive advantage to Pantheon, allowing for shorter development timeframes, materially lower infrastructure costs and the ability to support the development with a significantly lower pre-cashflow funding requirement than is typical in Alaska. Furthermore, the low CO2 content of the associated gas allows export into the planned natural gas pipeline from the North Slope to Southcentral Alaska without significant pre-treatment. The Company's project portfolio has been endorsed by world-renowned experts. Netherland, Sewell & Associates estimate a 2C contingent recoverable resource in the Kodiak project that total 1,208 mmbbl (million barrels) of ANS crude and 5,396 bcf (billion cubic feet) of natural gas. Cawley Gillespie & Associates estimate 2C contingent recoverable resources for Ahpun's western topset horizons at 282 mmbbl of ANS crude and 803 bcf of natural gas. Lee Keeling & Associates estimated possible reserves and 2C contingent recoverable resources totalling 79 mmbbl of ANS crude and 424 bcf natural gas. For more information visit This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Pantheon Resources PLC View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
