CEINEX sets stringent listing criteria for Chinese companies

China Europe International Exchange, the Frankfurt-based bourse, announced stringent listing criteria for Chinese companies planning to go public in European market, after several companies initiated listing plans.

Qingdao Haier Co., the first company expected to brave the local capital market, is expected to go public by the end of this year, according to people familiar with the matter.

Qualified Chinese listed companies are required to achieve annual turnover of more than 50 million euros in the past three years before listing at the bourse, or their expected market cap need to reach 500 million euros while annual turnover for main business should reach 50 million euros, said CEINEX on Friday.

The standards for listing D-shares position the CEINEX D-Share Market as the top-level securities board for Chinese blue-chip companies in Europe and serve to complement the regulatory framework of the German market, according to the announcement.

Chen Han, a CEO of CEINEX, said the CEINEX will devote and intensify communication with issuers, regulators and market players to ensure a stable kick-off for the CEINEX D-Share Market.

China's white goods manufacturer Qingdao Haier, the first company expected to debut on the Frankfurt-based bourse, is waiting for authorization from German regulator before listing shares.

The company received approval from Chinese top securities regulator earlier in June.

The company is expected to go public by the end of the year "if everything goes right," because Chinese officials do not want to let down the investors in the initial phase, according to people familiar with the matter.