Shenzhen-listed Midea is seeking to raise as much as US$3.5 billion in the Hong Kong share sale, which is set to be the city’s biggest in more than three years.
Alternative asset manager Hillhouse Investment and Singapore sovereign wealth fund GIC are considering investing in appliance maker Midea Group’s Hong Kong listing, according to people familiar with the matter.
Hillhouse is in talks to place an order for more than US$1 billion ($1.3 billion) of stock, while GIC is weighing subscribing for about US$500 million in the share sale, the people said, asking not to be identified as the information isn’t public.
