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A year ago today, in pictures: Virus outbreak and more moments you may remember
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S&P/TSX composite climbs as price of oil rises
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North American stock markets up in early trading, price of oil rises
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Haier Smart Home’s H-shares Debut on Hong Kong Stock Exchange
Haier Electronics became a wholly owned subsidiary of Haier Smart Home.
Haier Smart Home Co. Ltd.’s H-shares started trading on the Hong Kong Stock Exchange Wednesday, marking completion of a restructuring of the Chinese home appliance giant.
The listing of Haier Electronics was officially withdrawn Wednesday as it became a wholly owned subsidiary of Haier Smart Home. Haier Group remains the controlling shareholder of Haier Smart Home with 35.14%.
Previously, Haier Electronics was mainly engaged in the manufacture of domestic washing machines, water heaters and water purifiers as well as distribution covering domestic sales channels, while Haier Smart Home was mainly engaged in refrigerators, air conditioners and overseas household appliances.
Detergent Giant Blue Moon Cleans Up in Hong Kong IPO
China’s biggest detergent maker,
Blue Moon, cleaned up in its debut on the Hong Kong Stock Exchange Wednesday with its shares closing 13% higher, spurred by significantly increased profits from Covid-19 demand for disinfectants.
Backed by private equity firm Hillhouse Capital Group, Blue Moon Group Holdings Ltd. raised HK$9.58 billion ($1.24 billion) in the IPO, selling 747 million shares at HK$13.16 apiece. That gives it a valuation of HK$85.5 billion.
The funds raised could increase to HK$11 billion if international underwriters, including BNP Paribas and Citigroup, exercise over-allocation options to issue up to 15% more of the total shares.