Market Chatter: Midea Group Gets China Nod for Hong Kong IPO

MT Newswires Live07-24

China's securities regulator has approved Midea Group's (SHE:000333) planned initial public offering on the Hong Kong Exchange, South China Morning Post reported Tuesday.

The appliance manufacturer's overseas listing could rake in more than $1 billion in proceeds, SCMP said, citing sources familiar with the deal.

Midea is the world's largest home appliance maker with a market cap of HK$436 billion, according to the news outlet.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (RMB): Â¥60.42, Change: Â¥-1.96, Percent Change: -3.14%

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