Haier Group primed for ‘D market’ share issue
Multinational electronics firm says new listing on China Europe International Exchange will not exceed 400 million shares
Haier Group, a Chinese multinational consumer electronics and home appliances company headquartered in Qingdao city, is planning to go public on the China Europe International Exchange’s D share market, Yicai.com reported.
The issuance of the listing will be achieved through the Frankfurt Stock Exchange. The planned issuance method is an international placement, and the number of D shares issued will not exceed 400 million shares.
The China Europe International Exchange is a joint venture company established by Shanghai Stock Exchange (40%), Deutsche Boerse Group (40%) and China Financial Futures Exchange (20%).
Launched in Frankfurt, Germany, in November 2015, its goal is to develop and promote China- and RMB-related financial products for global investors.
The issuance of D shares is subject to the review and approval of the regulatory agencies of both China and Germany. The listing and trading are all governed by the relevant rules of the German stock market and are regulated by EU law.