SYDNEY, Australia — Chinese home appliance maker Midea Group will launch a share offering in Hong Kong to raise at least $3 billion as early as Monday, according to two sources with direct knowledge of the matter, in the city’s largest deal in more than a year.
The sources could not be identified as they are discussing confidential information. Midea Group did not immediately respond to a request for comment from Reuters.
Midea Group is listed in Shenzhen, and the discount offered to investors to buy its Hong Kong shares has not yet been finalized, the two sources said.
Hong Kong shares typically trade at a discount to mainland-listed stocks.
Midea’s listing would be the largest share offering in Hong Kong since Chinese lithium battery maker CALB raised almost $1.3 billion in October 2022.
The Shenzhen-listed shares fell 2.5 percent to 63.85 yuan on Thursday and had a market capitalization of 446 billion yuan.
The stock is up 17 percent this year.
