Sep 20, 2023 06:25 AM

BUSINESS

Chinese Appliance Giant Midea Plans Hong Kong IPO

By Tan Min and Denise Jia

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Air conditioners contributed nearly 47% of Midea’s total sales in the first half of 2023.

Air conditioners contributed nearly 47% of Midea’s total sales in the first half of 2023.

Chinese home appliance giant Midea Group Co. plans to sell H-shares in an initial public offering in Hong Kong, the company said Monday night.

Midea said it will pick an appropriate time within 18 months or longer to list its shares in Hong Kong. The Shenzhen-traded company disclosed last month that it was studying a potential share sale in Hong Kong as part of its global strategy, aiming to sell up to 10% of its total capital.

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