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Haier Share-Reform Terms Improved
Mar 10, 2006
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Chinese home-appliance maker Qingdao Haier Co. improved its compensation offer to Class A shareholders affected by its share-reform plan, according to a notice published in the China Securities Journal. Haier Group, which holds 12 percent in the listed company, is offering more put warrants to Qingdao Haier's Class A shareholders, and will allow those who receive warrants to sell Qingdao Haier's Class A shares back to Haier Group at a higher price, the notice said. Under the revised plan, Haier's Class A shareholders will receive nine put warrants for every 10 tradable shares, and each warrant allows the holder to sell one share back to Haier Group at 4.39 yuan (approx. U.S. $0.55) at the end of a 12-month listing period. This is more generous than the original plan, under which Qingdao Haier's Class A shareholders would have received five put warrants for every 10 tradable shares. (The Wall Street Journal)

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