China's Midea Group launches nearly $3.5 billion share offering in Hong Kong (updated)

CALB

09/09/2024 24:00

(Adds details of the listing, background, paragraphs 2-4)
       Sept 9 (Reuters) - China's Midea Group  000333.SZ  on
Monday launched a share offering of about HK$26.97 billion
($3.46 billion) in Hong Kong, a regulatory filing by the home
appliance maker showed. 
    The company has allotted around 492.1 million shares for the
offering, the filing showed, under a maximum offer price of
HK$54.80 per share. It expects the offer price to be no less
than HK$52.00.
    The listing, which Reuters had reported last week, would be
Hong Kong's largest share offering since Chinese lithium battery
maker CALB  3931.HK  raised almost $1.3 billion in October 2022.
    Midea's shares would trade under the stock code 0300 on the
Hong Kong Stock Exchange, and trading is expected to begin on
Sept. 17, the filing said.

 ($1 = 7.7945 Hong Kong dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru
Editing by Lisa Shumaker and Matthew Lewis)
 ((Aaditya.GovindRao@thomsonreuters.com;))