Linklaters advises Qingdao Haier on first secondary listing on CEINEX D-Shares Market

Linklaters advised Qingdao Haier, the world’s number one household appliances manufacturer, on their secondary listing on the D-Shares Market of the China Europe International Stock Exchange AG (CEINEX). This marks the first IPO in the CEINEX D-Share Market, making Qingdao Haier the first company to do so.

Qingdao Haier’s D-Shares were admitted to trading on the CEINEX D-Share Market, through admission to trading on the regulated market of the Frankfurt Stock Exchange, Frankfurter Wertpapierbörse, and simultaneously on the sub-segment, Prime Market, with additional post-admission obligations.

Qingdao Haier was founded in 1984 in Qingdao, People’s Republic of China and now boasts over 75,000 employees. It is the leading producer of home appliances, globally, and has listed its A-Shares on the Shanghai Stock Exchange since 1993.

CEINEX, a Frankfurt based joint venture, was established by the Shanghai Stock Exchange, the Deutsche Börse Group and the China Financial Futures Exchange. The Deutsche Börse Group provides the infrastructure for listing and trading all D-Shares, with the CEINEX platform able to bridge the Chinese and European financial markets.

“By advising on the first secondary listing of a Chinese blue-chip company on the CEINEX D-Shares Market, we have once again succeeded in breaking new ground in the area of international capital markets transactions”

said Dr Marco G. Carbonare, Partner at Linklaters.

This is the most recent in a series of ‘firsts’ for Linklaters, having advised Chengdu Xingcheng, on their listing to become the first Chinese non-financial institution to list their bonds on the CEINEX earlier this year. Linklaters also advised the Bank of China on its listing of the first bond on the CEINEX back in 2016 as well as advising China Construction Bank Corporation (CCB) on the issue of the first offshore renminbi bond (Goethe bond) in 2014.

Dr Marco G. Carbonare and Dr Alexander Schlee led the Linklaters Frankfurt team, alongside partners Michael Ng and Iris Leung, from the firm’s Hong Kong office.