Business
Midea Targets $3.46 Billion IPO on HKEX: A Potential Record-Breaker since JD Logistics’ Offering
Midea aims to generate US$3.46 billion through the Hong Kong Stock Exchange as high-profile initial public offerings cautiously return to Hong Kong. This sizable IPO could be the city's largest new share release since JD Logistics amassed an equivalent of US$3.64 billion in May 2021.
Midea plans to sell 492.14 million fresh shares between HK$52 and HK$54.80 per share, as disclosed in a corporate document submitted to the Hong Kong's stock market on Monday. If required to accommodate surplus demand, the size of the initial public offering may be expanded by 73.8 million shares.
The firm will accept investment requests through Thursday, with the ultimate IPO cost set to be determined on September 13, as per the announcement. Given the price bracket, Midea's market value could be anywhere from HK$389.2 billion to HK$410.2 billion, as stated in the document.
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