The Qatar Investment Authority and Sinopec are weighing investments in Contemporary Amperex Technology (CATL) upcoming Hong Kong listing, which could be one of the city's largest share sales in years, according to Bloomberg News on May 6, citing sources.
The sovereign wealth fund and Chinese state oil firm might purchase several hundred million dollars' worth of shares, while Hillhouse Investment is also considering participation, the report added.
CATL has held discussions with other funds, including Kuwait Investment Authority, about joining the IPO either as cornerstone investors or through the institutional offering, said the news wire report.
Cornerstone investors receive guaranteed share allocations in exchange for agreeing to a six-month lock-up period, the report said.
Talks remain ongoing, and no final decisions have been made. Additional firms have also expressed interest in the offering, though details are still being finalized, added Bloomberg News.
(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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