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Chinese appliance giant Midea raises $5.2b in upsized Hong Kong listing
The Straits Times
|September 17, 2024
Chinese appliance giant Midea Group has raised US$4 billion (S$5.2 billion) in its Hong Kong listing in an enlarged deal that was priced at the top of the marketed range, in a show of demand for the city's biggest share sale in over three years.
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The Foshan, company sold China-based shares at HK$54.80 apiece, it said in a statement to the Hong Kong stock exchange on Sept 13, confirming an earlier Bloomberg News report.
The listing is scheduled to take place in Hong Kong on Sept 17. Midea sold 566 million shares after exercising an option to boost the size of the offering by 15 per cent due to strong demand, it said.
This story is from the September 17, 2024 edition of The Straits Times.
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