Midea Group Co. Ltd. Class H ( (HK:0300) ) has issued an update.
Midea Group Co., Ltd. has announced the proposed spin-off and listing of its controlled subsidiary, Annto Supply Chain Technology Co., Ltd., on the Main Board of the Hong Kong Stock Exchange. This strategic move is aimed at enhancing Annto’s operational independence and financial flexibility, potentially increasing its market valuation and providing new growth opportunities. The spin-off plan includes issuing H shares to global investors, with the initial issuance size not exceeding 20% of the enlarged total share capital, and is subject to regulatory approvals and market conditions.
More about Midea Group Co. Ltd. Class H
Midea Group Co., Ltd. is a leading Chinese company operating in the home appliance and HVAC (heating, ventilation, and air conditioning) industry. It is known for its wide range of products including air conditioners, refrigerators, washing machines, and kitchen appliances, with a strong market presence both domestically and internationally.
YTD Price Performance: -2.98%
Average Trading Volume: 7,759,959
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$588.4B
Learn more about 0300 stock on TipRanks’ Stock Analysis page.