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.)
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