Haier Electric temporarily suspended trading in Hong Kong after rumors of privatization

Haier Electric temporarily stopped trading from 9 am. Haier Zhijia issued a clarification announcement last night stating that the company is initially discussing a plan to privatize Haier Electric.

Haier Electric temporarily stopped trading from 9 am. It was previously reported that Haier Zhijia intends to list on the Hong Kong Stock Exchange, and plans to privatize Haier Electric, which has been listed on the Hong Kong Stock Exchange, for $ 7.7 billion.

Haier Zhijia issued a clarification announcement last night stating that the company is currently preliminary discussing the plan to privatize Haier Electric. These possible privatization arrangements will be carried out through a share swap. The consideration shares will be H Shares if the transaction is completed, Haier will terminate listing on the main board of the Hong Kong Stock Exchange.

The announcement states that at present, the company has not proposed any privatization arrangements to Haier Electric, and has not reached any agreement, commitment or other definitive opinion on such privatization arrangements (such as the share swap ratio and privatization schedule, etc.) There are still significant uncertainties.

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