Caixin
Oct 12, 2018 07:26 PM
BUSINESS & TECH

Haier Bets on Appliance Prowess to Power $700 Million German Fundraising

Qingdao Haier Co. Ltd. appliances are seen at an exhibition in Changzhou, Jiangsu province, on Aug. 24. Photo: IC
Qingdao Haier Co. Ltd. appliances are seen at an exhibition in Changzhou, Jiangsu province, on Aug. 24. Photo: IC

Appliance giant Qingdao Haier Co. Ltd. on Friday announced the pricing for a new offering of shares in Germany, aiming to raise as much as $700 million as it becomes the first company to list on a newly launched European board for Chinese firms.

Haier set a price range of 1 euro ($1.16) to 1.5 euros for the up to 400 million shares it plans to issue, according to a company filing (link in Chinese) to the Shanghai Stock Exchange. About 265 million shares will be sold in the initial listing, with the remainder in an overallotment option if demand is strong.

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