Midea's HK IPO to raise $3.5 billion

By Global Times

Sep 11, 2024 12:12 am

MIDEA Group, the world's largest home appliance maker, announced on Sunday plans to raise up to HK$27 billion ($3.46 billion) in an initial public offering (IPO) at the Hong Kong Stock Market, possibly the biggest IPO at the bourse this year.

The company, which is already listed on the Shenzhen Stock Exchange, has allocated 492.1 million shares for the Hong Kong offering.

GO BIG A man works at a workshop of Midea Group in Guangzhou, Guangdong province, on March 3, 2023. Midea Group announced on Sept. 8, 2024 it is planning to raise HK$27 billion ($3.46 billion) in its IPO at the Hong Kong Stock Market, the biggest offered to the bourse for the year. XINHUA PHOTO

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