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China's Haier debuts in Frankfurt as first D-share IPO

(People's Daily)    13:21, October 25, 2018

Qingdao Haier debuts in the Frankfurt Stock Exchange, Oct. 24, 2018. (Photos: Li Qiang/People's Daily)

Frankfurt (People's Daily) - Chinese home appliances maker Qingdao Haier on Wednesday began trading shares in Frankfurt, the first issuer in the D-share project on the China Europe International Exchange (CEINEX).

Haier is the first Chinese company to list on the regulated market of the Frankfurt Stock Exchange (FSE) through the D-share project, D for “Deutschland” or “Deguo,” the name for Germany in Chinese.

The company raised about €278 million, or $318 million, as its shares opened at price of €1.06 apiece, slightly above the offer price.

“Today we celebrate the opening of a new bridge between China’s and Europe’s financial markets,” said Chen Han, co-chief executive officer of CEINEX. “CEINEX is looking forward to further establishing its platform and grow the D-Share Market with more Chinese blue-chips in the future.”

The D-share market is designed to promote the issuers’ business expansion by raising capital and credibility in Europe and help global investors to invest in Chinese companies directly from Europe. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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