CATL to launch at least $4 billion Hong Kong listing on Monday at around 5% discount, sources say
By Julie Zhu, Summer Zhen and Kane Wu
HONG KONG, May 11 (Reuters) - Chinese battery maker CATL 300750.SZ 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 0386.HK, 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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