The Seminar on Chinese Enterprises Issuing D-Shares in Germany was Held in Beijing DHH Law Firm
Director Kejiang Liu said in his speech that it was a brand new thing for Chinese enterprises to issue D-shares in CEINEX, which was of positive significance under the Belt and Road Initiative proposed by Chinese Government and with its support for Chinese enterprises to “go global”. During the Seminar, Christoph F Vaupel and Lars-Gerrit Lüßmann introduced the advantages of D-share floatation, its current status, its application procedures, the attentions in its due diligence and delivery settlement, its equity allocation and obligations before and after listing, and other issues. The participant lawyers also had a heated discussion on the model of D-shares to be issued by China Haier Group in CEINEX, the possible legal issues, and even the procedures for listing D-shares.
CEINEX is a joint venture established by Shanghai Stock Exchange (SSE), Deutsche Börse (DBOEF) and China Financial Futures Exchange (CFFEX) in November 2015, which was a major achievement of the first Sino-German high-level financial dialogue. It also has provided new opportunities for international investors under the EU regulatory framework to invest Chinese high-quality companies and China-related bonds, exchange-traded funds and other products. On April 10th, 2018, Qingdao Haier Co., Ltd issued an announcement on the resolutions of the Board of Directors and proposed to make an initial public offering of shares and listing on the CEINEX’s D-share market in Frankfurt, Germany.