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Chinese developer Midea Real Estate planning Hong Kong listing

Chinese property developer Midea Real Estate Holding Ltd. intends to list on The Stock Exchange of Hong Kong Ltd.

The company plans to issue an unspecified number of shares, according to an application proof.

Midea Real Estate principally engages in property development and sales, property management services, and investment and operation of commercial properties.

The company had a total of 117 projects across 33 cities in 11 provinces and one municipality as of March 31. The company's business activities are mainly focused across the Pearl River Delta Economic Region and the Yangtze River Delta Economic Region.

The aggregate value of the company's property interests as of March 31, as assessed by independent property Jones Lang LaSalle Corporate Appraisal and Advisory Ltd., was roughly 95.01 billion yuan.

As of May 31, US$1 was equivalent to 6.41 yuan.