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IPO Detail
00300 美的集團
MIDEA GROUP
Listing Date2024/09/17
Listing Price54.800
 
Quote
Subscription Result
  • Subscription Rate
    5.31x
  • Guarantee One Lot Size
    1 lot
  • One Lot Success Rate
    100%
COMPANY PROFILE

Midea Group Co is a leading technology-driven global provider of Smart Home Solutions and Commercial & Industrial Solutions. The Group’s journey commenced in 1968 in Shunde, China. As a Fortune Global 500 company for nine consecutive years, it operates a global business that reaches over 200 countries and regions, with 33 R&D centers, 43 major manufacturing bases.

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Under Smart Home Solutions, the Group offer a wide range of home appliances for consumers; under Commercial & Industrial Solutions, its offerings cover various solutions for enterprise customers, such as home appliance compressors and motors, commercial air conditioners, industrial robots and supply chain services. It generated the majority of its revenue from sales of home appliances under Smart Home Solutions.

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The Group is the world’s largest home appliance company in terms of both sales volume and revenue in 2023, capturing a market share of 7.9% in terms of sales volume. In 2023, in terms of sales volume, it ranked among the top three home appliance companies in the world in each of residential air conditioners, laundry appliances, refrigerators, as well as kitchen and other appliances, with a market share of 23.7%, 14.2%, 10.5% and 6%, respectively. It is the largest commercial air conditioner provider in mainland China, capturing a market share of 14.3%, and one of the top five globally, capturing a market share of 6.6%, both in terms of revenue in 2023.

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The Group’s customers primarily consist of its distributors and retailers and ODM/OEM customers for Smart Home Solutions, and enterprise customers of its Commercial & Industrial Solutions.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureHousehold Appliances & Electronics
Major Business AreaChina
Board Lot100
GLOBAL OFFERING
No. of Offer Shares565.96M H shares
No. of International Offer Shares537.66M H shares
No. of HK Offer Shares28.30M H shares
Offer Price$52.00 - $54.80
Stock Code300
Sponsor(s)China International Capital Corporation Hong Kong Securities Limited, Merrill Lynch (Asia Pacific) Limited
Underwriter(s)China International Capital Corporation Hong Kong Securities Limited, Merrill Lynch (Asia Pacific) Limited, UBS AG Hong Kong Branch, CLSA Limited, Goldman Sachs (Asia) L.L.C., Huatai Financial Holdings (Hong Kong) Limited, GF Securities (Hong Kong) Brokerage Limited, CMB International Capital Limited, BNP Paribas Securities (Asia) Limited, Futu Securities International (Hong Kong) Limited
TIME TABLE
Application PeriodSep 09 (Mon) - noon, Sep 12 (Thu)
Price Determination DateSep 13 (Fri)
Result Announcement DateOn or before Sep 16 (Mon)
Result Announcement DateOn or before Sep 16 (Mon)
Result Announcement DateOn or before Sep 17 (Tue)
Dealings in Shares commence onSep 17, 2024. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription9X - 18X18X - 36XOver 36X
% of total shares reallocated to HK Offer6%7%8%
Sales Statistics (HKD)
Offer Price$52.00 - $54.80
Capitalization (H Shares)25.59B - 26.97B
NAV / share ($)$20.84 - $21.03 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 53.40, the net proceeds raised would be HKD 25.97B, of which
20% : For worldwide research and development efforts
35% : Continual investment in upgrading intelligent manufacturing system and supply chain management
35% : Enhancing distribution channels and sales network around the world and increasing overseas sales under its own brands
10% : Working capital
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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