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BUSINESS & TECH

Qingdao Haier to List in Germany

Haier televisions sit on sale at an appliance store in Qingdao, Shandong province, in October 2015. Photo: VCG
Haier televisions sit on sale at an appliance store in Qingdao, Shandong province, in October 2015. Photo: VCG

Home appliance giant Qingdao Haier Co. Ltd. said it will float shares on a newly established stock exchange in Germany, following the board’s recent launch as part of a broader effort to promote globalization of Chinese companies.

Qingdao Haier’s board approved an initial public offering (IPO) of up to 400 million so-called D-shares on the China Europe International Exchange, a Frankfurt-based exchange set up by the Shanghai Stock Exchange, Deutsche Borse and the China Financial Futures Exchange, according to a Wednesday stock exchange filing (link in Chinese). The listing would be the first on the young exchange, whose launch was formally announced in November, according to Reuters.

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