BEIJING, Oct. 12 (Xinhua) -- Chinese white goods maker Qingdao Haier is working on the IPO in the D-share market of China Europe International Exchange (CEINEX), announced the company on Friday.
The Haier listing will kick off the D-share project - D is short for Deutschland - on the infant CEINEX based in Frankfurt soon.
CEINEX is a joint venture established by Shanghai Stock Exchange (SSE), Deutsche Börse Group (DBAG), and China Financial Futures Exchange (CFFEX). It is the first dedicated trading venue for China- and RMB-related investment products outside of the Chinese mainland.
The company got approval from the China Securities Regulatory Commission to issue no more than 460 million foreign shares with a par value of 1 yuan per share, all of which are ordinary shares.
The price range of the company's D-share is initially determined to be between 1 eruo and 1.50 euros. In the IPO, the company is going to issue 265 million shares before the overallotment option is exercised.
It is expected that the company's D-shares are able to be traded starting from October 24. (Edited by Li Wenxin, liwenxin@xinhua.org)
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