The global home appliance giant Haier's plan to go public in Germany has finally been confirmed.
On the evening of April 10th, Qingdao Haier issued a board of directors’ resolution stating that in order to promote the business development of the company and further promote the company’s globalization strategy, the company plans to enter the D-share market of China Europe International Exchange Co., Ltd. (hereinafter referred to as “China Europe International Exchange D-share”). The market ') Initial public offering of shares and listing, this listing will be achieved through the access and listing of the Frankfurt Stock Exchange.
In March 2017, Haier announced its global strategy for its six major home appliances brands, accelerating the pace of global market expansion. In 2017, Haier's global strategy achieved fruitful results: Haier Group achieved a global turnover of 241.9 billion yuan. In overseas markets, Haier Group insists. Create brand strategy, overseas market revenue in 2017 accounted for more than 40% of total global turnover, strong growth in various markets around the world.
As early as February of this year, Reuters reported that Haier plans to list in Germany and will become one of the first Chinese companies to issue D shares. Subsequently, Qingdao Haier announced that it is “researching and proving the feasibility of D share issuance”.
In the announcement on the evening of April 10, Qingdao Haier stated that China Europe International Exchange Co., Ltd. is a joint stock company established by the Shanghai Stock Exchange, the Deutsche Börse Group and the China Financial Futures Exchange. The Deutsche Börse Group is a Frankfurt company. The main body of the exchange's operations, the listing rules of the Frankfurt Stock Exchange apply to the China-Europe International Exchange's D-share market.
According to media reports, China Europe International Exchange supports a variety of D-shares listing models, including IPO, 'A+D' model, that is, the issuance of D-shares in Germany and A-shares in mainland China.
Qingdao Haier disclosed in the announcement that the issuance method is an international placement and the issue size does not exceed 400 million shares (before the execution of the over-allotment rights), and the book management administrator may award over-allotment of 15% of the above-issued D-shares to the book-keeper. Right, the final number of issues is submitted to the shareholders' meeting for authorizing the board of directors and authorized persons of the board of directors to approve according to the law, the approval of the regulatory agency and the determination of the market conditions. The issuance prices will take into full account the interests of the company’s existing shareholders, investor acceptance capabilities, and issuance risk, etc. International conventions, through order requirements and bookkeeping, according to the situation of the domestic and foreign capital markets at the time of issuance, reference to the valuation of comparable companies in the domestic and foreign markets to determine the issue price. The D-share issuance is planned to be sold on a global scale. Qualified global investor release.
Independent directors of Qingdao Haier Wu Cheng, Shi Tiantao and Dai Deming stated that this is an issue that is conducive to satisfying the business development needs of the company, optimizing the capital structure, further advancing the company's internationalization strategy, further enhancing the company's operation and management level, and enhancing its core competitiveness.
Qingdao Haier's Board of Directors has reviewed and approved the "Qingdao Haier Co., Ltd. Proposal on the Company's Initial Public Offering of Stocks to be Listed on the China Europe International Exchange's D Share Market and Listed," and will be submitted to the company's shareholders meeting for consideration.