Contemporary Amperex Technology (CATL) will launch its IPO in Hong Kong on Monday, raising at least $4 billion with a discounted price of around 5%.

Three informed sources revealed on Sunday that Chinese battery manufacturer CATL will conduct its first public offering in Hong Kong on Monday, planning to raise at least $4 billion with a discount of about 5% compared to its domestic stock price. CATL's stock in Shenzhen closed at 248.27 yuan on Friday. The sources said that the company has received approximately $2.6 billion from cornerstone investors and has completed investor briefing before the bookbuilding. As the information has not been made public yet, the sources declined to disclose their names. Two of them said that cornerstone investors include Kuwait Investment Authority and Chinese oil giant Sinopec, each committing to invest $500 million, while a company under Hillhouse Capital is contributing $200 million.