Caixin
Oct 09, 2018 07:00 PM
BUSINESS & TECH

Fridge Giant Haier Powers Into German Stock Market

Shoppers browse Haier appliances at a store in Changzhou, East China's Jiangsu province on Aug. 24. Photo: IC
Shoppers browse Haier appliances at a store in Changzhou, East China's Jiangsu province on Aug. 24. Photo: IC

Leading home-appliance maker Qingdao Haier Co. Ltd. has submitted a plan to become the first Chinese firm to issue shares for trading in Germany next week, under a new program aimed at boosting global investors’ access to China-listed companies.

Haier, one of China’s most successful global success stories, will issue 400 million D-shares starting around Oct. 15, pending regulatory approval, the company said in a statement to China Europe International Exchange AG (CEINEX), which is sponsoring the program. It did not give a size of the funds it hoped to raise, but other media reported the amount would be nearly $1 billion.

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