CATL to launch at least $4 billion Hong Kong listing on Monday at around 5% discount, sources say
HONG KONG, May 11 (Reuters) - Chinese battery maker CATL (300750.SZ), opens new tab is launching its Hong Kong public offering on Monday, aiming to raise at least $4 billion at an around 5% discount to its domestic share price, three people with knowledge of the deal said on Sunday.
CATL's Shenzhen-listed shares last traded at 248.27 yuan on Friday.
The company has finalised investor briefings ahead of book building, having secured around $2.6 billion from cornerstone investors, the three sources said, declining to be named as the information was not yet public.
Cornerstone investors include Kuwait Investment Authority and China's oil major Sinopec , which committed $500 million each, and a vehicle under Hillhouse Investment which committed $200 million, two of the sources said.
CATL did not immediately respond to a Reuters request for comment.
The cornerstone investors did not immediately comment.
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