According to IFR reports, Midea Group (000333.SZ) will begin bookkeeping and filing as soon as September 9 (next Monday) and will begin accepting subscriptions from investors.
According to the report, in order to attract investors to subscribe, the company is considering offering a maximum 20% discount on H shares compared to A-shares, and the amount raised is about 4 billion US dollars (about 31.2 billion HKD), which is higher than the 3 billion US dollars previously reported. Among them, Cornerstone investors may subscribe about 1 billion US dollars.
According to earlier news, the Midea Group aims to complete the Hong Kong listing in September, or become the largest IPO in Hong Kong in the past 3 years.
As of midday closing, Midea Group's A shares reported RMB 63.23 per share, with a total market value of over 440 billion yuan.
On August 30, Midea Group disclosed its prospectus after the hearing on the Hong Kong Stock Exchange. On September 5, it was announced that the board of directors agreed to the relevant arrangements for the global sale of the company's H shares, and authorized relevant parties to handle specific matters relating to this issuance and listing in accordance with the relevant resolutions.
Midea Group's IPO was co-sponsored by CICC and Merrill Lynch; PricewaterhouseCoopers as its auditor; Jiayuan and Shida are their Chinese lawyers; KWM and Fullworth are their Chinese lawyers and Hong Kong and US lawyers; and Frost Sullivan is their industry advisor.