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Midea Raises $4 Billion in Hong Kong IPO, Shares Surge 9.5% to HK$59.2
Sep 17, 2024, 01:27 AM
Chinese appliance giant Midea has successfully raised $4 billion in its highly anticipated Hong Kong listing, marking the city's largest public stock offering in nearly four years. The company's shares surged as much as 9.5% in gray-market trading ahead of their debut and opened at HK$59.2 each, up from the offer price of HK$54.80. Analysts predict that Midea's listing will have a significant impact on the IPO market, potentially revitalizing Hong Kong's languishing financial market. The robust demand for Midea's shares reflects strong investor confidence in the company's growth prospects.
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