HONG KONG -- Chinese home appliance maker Midea Group on Monday announced that it is moving forward with a dual listing of its shares on the Hong Kong Exchange, marking one of the largest offerings on the city's bourse in years but triggering a chilly response on the Shenzhen Exchange, where it already trades.
Midea will issue 492.13 million new H-shares, not taking into account a potential offer size adjustment and overallotment, according to its filing to the Hong Kong exchange. The company stands to raise as much as 26.96 billion Hong Kong dollars ($3.45 billion) if the listing price is set at the top of the range between HK$52.00 and HK$54.80.
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