Business
Midea Targets Record-Breaking $3 Billion IPO in Hong Kong: World’s Largest Home Appliance Maker Begins Book Building Process
Midea plans to garner $3 billion, aiming for the largest Initial Public Offering in Hong Kong since 2021 as a leading 'White Goods' manufacturer. The source suggests that the world's top home appliance producer may initiate the book building procedure as soon as Monday.
Midea Group, the global leader in home appliance manufacturing, is poised to be the most substantial initial public offering (IPO) in Hong Kong over the past three years. The company intends to secure a minimum of US$3 billion, a source revealed.
The process of building the book could potentially begin as soon as Monday, says the source, who wished to remain anonymous while discussing sensitive details.
The Initial Public Offering (IPO) is predicted to be the most significant since Baidu's US$3.08 billion increase in March 2021. Additionally, Midea's deal is expected to be the largest IPO in Hong Kong for the current year, overstepping the tea shop titan Sichuan Baicha Baidao Industrial's HK$2.58 billion (US$330 million) in April.
Midea began preliminary presentations for its Initial Public Offering (IPO) this week, as reported by IFR.
The company listed in Shenzhen has selected China International Capital Corp and Bank of America as co-sponsors.
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