Market Chatter: CNGR Advanced Material in in Talks for Possible Hong Kong Listing

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Market Chatter: CNGR Advanced Material in in Talks for Possible Hong Kong Listing

MT Newswires Live02-14

CNGR Advanced Material (SHE:300919) is in talks with Huatai Securities (HKG:6886, SHA:601688) and Morgan Stanley to seek help regarding its listing in Hong Kong, Bloomberg News reported Thursday, citing people familiar with the matter.

The Shenzhen, China-listed battery component manufacturer could raise between $400 million and $500 million from the listing, the report said, citing the sources.

CNGR is still in talks regarding the details of the offering, Bloomberg said.

The company supplies batteries for Tesla, Samsung SDI (KRX:006400), LG Chem (KRX:051910), and Contemporary Amperex Technology (SHE:300750), the report said.

CNGR did not immediately respond to a request for comment from MT Newswires.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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