Germany listing set for Qingdao Haier

Haier dual front-loading washing machines are seen at a home appliance exhibition in Berlin, Germany. Home appliances maker targets $900m valuation from public float of 400m shares Qingdao Haier Co Ltd announced on Friday it is moving ahead with plans to list on the China Europe International Exchange's D-Shares Market in Frankfurt, making Haier, which is one of the world's largest home appliances makers, the first Chinese company with such a plan. Chen Han, co-CEO of CEINEX, said Haier's listing is "an important step for CEINEX on its way to establishing its platform as a link between European and Chinese financial markets". Jointly established by the Shanghai Stock Exchange, Deutsche Borse Group and the China Financial Futures Exchange, CEINEX is the first dedicated trading venue for China and renminbi-related investment products outside the Chinese mainland. Haier's global sales revenue grew by 20 percent in 2017 to top 241.9 billion yuan, making the company the largest home appliances maker by sales revenue for nine consecutive years.