China's top securities regulator approved Chinese white goods manufacturer Qingdao Haier Co for its application for an offshore listing on the D-Share Market in Germany, according a statement by the Frankfurt-based exchange on Tuesday.
The company is expected to become the first Chinese company to debut on the Frankfurt-based bourse, with plans to list up to 460 million shares on the China Europe International Exchange, according to the company's earlier announcement.
The company needs to get approval from the German Federal Financial Supervisory Authority before it makes its D-shares listing.
The China Europe International Exchange said it welcomes this approval as an important step underlining the quality in the construction of the CEINEX D-Share Market, which is part of the EU-regulated market of the Frankfurt Stock Exchange.
"The CEINEX will continue to closely cooperate with the issuer to prepare the listing of D-Shares, and will actively develop the relevant regulatory framework together with the Deutsche Börse Group to provide the market infrastructure for a smooth start and development of the CEINEX D-Share Market in Frankfurt," said Chen Han, co-president of CEINEX.