Battery material supplier CNGR slides 3 percent in gray market

CNGR Advanced Material, a battery material supplier to Tesla and Contemporary Amperex Technology (3750), slid 3 percent in the local gray markets on Friday. 

The company’s shares dropped to around HK$33 apiece on local brokerages' over-the-counter markets in the earlier trading hours. 

Its stock was priced at the bottom of the indicative price range at HK$34. Based on the current price, investors would lose HK$200 per board lot of 500 shares. 

The stock is slated to make its Hong Kong debut on Monday.