Home Appliance Giant Midea Takes a Step Closer to Hong Kong IPO

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What’s new: Midea Group Co. Ltd. (000333.SZ) has completed its registration with China’s securities regulator for a Hong Kong IPO, as the home-appliance maker seeks more capital to fund its global expansion.

The Shenzhen-listed company plans to issue up to 650.8 million ordinary shares to trade on the Hong Kong Stock Exchange, according to a notice published by the China Securities Regulatory Commission (CSRC) on Tuesday.

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Midea Group has registered for a Hong Kong IPO, planning to issue up to 650.8 million shares to fund global expansion.
The company must complete the IPO within 12 months and has not provided a timetable or pricing details.
Midea, generating 40% of revenue from overseas markets, aims to use IPO proceeds to enhance global R&D, upgrade its sales network, and increase overseas sales.

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Who’s Who

Midea Group Co. Ltd.: Midea Group Co. Ltd. is a Shenzhen-listed home appliance maker planning a Hong Kong IPO to raise capital for global expansion. The company will issue up to 650.8 million shares and has 12 months to complete the IPO. Midea generated 40% of its revenue from overseas markets from 2021 to 2023 and ranks as the world’s No.1 home appliance company by sales volume and revenue. Founded in 1968, it owns brands like Midea, Comfee, and Little Swan.

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