Equities

Reuters reveals Haier Smart Home plans Hong Kong listing to take $7.7 bln unit private

Reuters reveals Haier Smart Home plans Hong Kong listing to take $7.7 bln unit private

Reuters reported exclusively that Haier, the world’s biggest maker of household appliances, is planning a major restructuring that will see its main unit Haier Smart Home list in Hong Kong to take another group company valued at $7.7 billion private. Under the deal, Haier Smart Home, formerly known as Qingdao Haier and already listed in Shanghai, would offer minority shareholders in unit Haier Electronics Group newly issued Hong Kong stock for their shares, two people with direct knowledge of the matter told Reuters.