MIDEA GROUP
Listing Date | 2024/09/17 |
Listing Price | 54.800 |
- Subscription Rate5.31x
- Guarantee One Lot Size1 lot
- One Lot Success Rate100%
Listing Date | 2024/09/17 |
Listing Price | 54.800 |
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.
Market | Hong Kong (Main Board) |
Business Nature | Household Appliances & Electronics |
Major Business Area | China |
Board Lot | 100 |
No. of Offer Shares | 565.96M H shares |
No. of International Offer Shares | 537.66M H shares |
No. of HK Offer Shares | 28.30M H shares |
Offer Price | $52.00 - $54.80 |
Stock Code | 300 |
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 |
Application Period | Sep 09 (Mon) - noon, Sep 12 (Thu) |
Price Determination Date | Sep 13 (Fri) |
Result Announcement Date | On or before Sep 16 (Mon) |
Result Announcement Date | On or before Sep 16 (Mon) |
Result Announcement Date | On or before Sep 17 (Tue) |
Dealings in Shares commence on | Sep 17, 2024. (Tue) |
Times of HK Offer Shares Subscription | 9X - 18X | 18X - 36X | Over 36X |
% of total shares reallocated to HK Offer | 6% | 7% | 8% |
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) |
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 |
17/09/2024 16:08 |
{New Stock}MIDEA GROUP(00300) ends up 7.85% at HK$59.1 |
17/09/2024 09:20 |
{New Stock}MIDEA GROUP(00300) opens up 8.03% at HK$59.2 |
16/09/2024 18:35 |
{New Stock}MIDEA GROUP(00300) ends up 5.02% on grey market |
16/09/2024 16:20 |
{New Stock}MIDEA GROUP up 2.56% at HK$56.2 on grey market |
Prospectus | Chinese Version | English Version |
Remark: | The above information is referenced from the prospectus. |
All data is calculated from the non- exercise rights(if applicable). |
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