24 October 2018

King & Wood Mallesons advises Qingdao Haier on its D-share listing in Frankfurt, marking the first “A+D” dual-listing deal

On 24 October 2018, King & Wood Mallesons (“KWM”) advised Qingdao Haier Inc. (“Qingdao Haier”, SSE: SH600690, CEINEX: 690D) on its IPO and listing on the D-Share Market of China Europe International Exchange (“CEINEX”). In its global offering, Qingdao Haier issued 265 million shares (before exercising over-allotment) at a price of EUR 1.05 per share. Qingdao Haier is the first Chinese public company to directly float its shares on Frankfurt Stock Exchange. It’s also the first Chinese public company to trade and raise capital on a European exchange, creating the “A+D” dual-listing model.

Qingdao Haier, the world’s leading manufacturer of home appliance, was listed on the Shanghai Stock Exchange in 1993. This offshore listing in Frankfurt is an important step for Qingdao Haier’s globalization. With access to both Chinese and European capital markets, Qingdao Haier would benefit from diversified funding channels, optimized capital structure, enlarged investor base and enhanced international branding. It will also provide support to its business strategy and global presence, thus has far-reaching significance for Qingdao Haier.

In this transaction, KWM acted as legal counsel to Qingdao Haier and provided professional and efficient legal services throughout the IPO, winning full recognition and high praise from the client and other intermediaries. The KWM China team was led by partners Zhang Yongliang, Zhao Xiaohong, Song Yanyan, Wang Ningyuan, and assisted by associates Zhang Ruoran, Jiang Luming, Miao Yuqian, Wu Jingze, Tang Yiwen, Li Shenglan, Li Ruojin, Yang Bo and Zhu Xiao;  the KWM Germany team was led by partner Rudolf Haas, and assisted by associate Li Xia.


Partners Xu Ping (the second lady from left )  and Rudolf Haas (the fourth gentleman from left ) presented IPO at the Stock Exchange

Partner Zhang Yongliang noted, “We are honored to have completed this landmark ‘A+D’ debut for Qingdao Haier. Leveraging our extensive onshore and offshore experience and global resources in corporate securities and capital markets, KWM can provide innovative legal solutions and assist Chinese enterprises to explore new offshore financing models and capitalize opportunities around the world. ”


Media Contact

Share on LinkedIn Share on Facebook Share on Twitter Share on Google+
    You might also be interested in

    Of the 30 KWM partners who were recognized as Leading Lawyers, 7 partners were named as “Market-Leading Lawyers” in their respective practice areas.

    29 September 2018

    KWM Partners Mr. Paul Starr, Mrs. Barbara Chiu from the Hong Kong office and Mr. Justin Lin from the Shenzhen office attended the ceremony.

    26 September 2018

    As the first US listed mobile content aggregator in China, Qutoutiao took only 27 months to be listed from its establishment, setting the record as the rapidest Chinese internet enterprise to go...

    26 September 2018

    We are delighted to announce the People’s Choice Winner of the Contemporary ATSI Art Prize is Tony Albert, Weight of the World.

    25 September 2018

    This publication has been downloaded from the King & Wood Mallesons website. It is provided only for your information and does not constitute legal or other advice on any specific matter. If you require or seek legal advice you should obtain such advice from your own lawyer, and should do so before taking, or refraining from taking, any action in reliance on this publication. If you have any questions, please contact King & Wood Mallesons. See www.kwm.com for more information.