Contemporary Amperex Technology's (SHE:300750) investors for its share listing in Hong Kong have been told the discount for its Shenzhen-listed shares could be lower than 10%, Reuters reported Wednesday, citing three sources with direct knowledge of the matter.
The discount could be in the mid-single digits, the report said, citing two of the sources.
Investors are pushing for the Hong Kong shares to be priced at least 10% lower than the Shenzhen shares, the report said.
Pricing has not been finalized, and the battery giant is still courting cornerstone and anchor investors to buy CATL's Hong Kong stock, Reuters said.
Hong Kong secondary stocks usually trade at a discount compared with mainland Chinese stocks to attract investors to buy in the offering, according to the news agency.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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