Chinese manufacturer of household appliances listed in Prime Standard
Qingdao Haier Co., Ltd. (ISIN: CNE1000031C1) was listed in the Prime Standard on the Frankfurt Stock Exchange today, Deutsche Börse Cash Market announced earlier. The shares of the Chinese household appliance manufacturer were quoted at €1.06 at the start of trading. The issue price was €1.05.
With the listing, D-Shares of a Chinese company were listed for the first time on the CEINEX D-Share market of the Frankfurt Stock Exchange. D-Shares are a separate class of shares alongside the existing A-Shares of Qingdao Haier, which are listed on the Shanghai Stock Exchange.
The listing was accompanied by Deutsche Bank, who is together with Baader Bank also designated sponsor in Xetra trading. Specialist on the Börse Frankfurt venue is also Baader Bank.
According to company information, Qingdao Haier would like to use the proceeds from the placement of the D-shares to promote the Haier brand and promote the growth of international business in Europe, among other things.
Qingdao Haier is one of the world’s leading manufacturers of household appliances with a focus on smart home solutions and customized mass production. The company develops, produces and sells a wide range of household appliances such as refrigerators and washing machines. The company also operates a logistics business focusing on the distribution of large appliances within China.
D-Shares refer to shares of companies based in China which are listed in Germany on the Frankfurt Stock Exchange’s CEINEX D-Share market. The “D” stands for “Deutschland” or “Déguo´”, which means Germany in Chinese. CEINEX, a joint venture established by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange, utilizes the infrastructure of Deutsche Börse Group for D-Share listings and trading. D-Share issuance is subject to the prior approval of the China Securities Regulatory Commission (CSRC) and the prospectus shall be approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht or short BaFin). D-Share listed companies need to comply with all obligations of the market chosen for public offering, which is Deutsche Börse’s Prime Standard.
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Qingdao Haier listed on the Frankfurt Stock Exchange was first posted on October 24, 2018 at 11:40 am.