Reuters reported the Qingdao-based Haier is planning to sell so-called D-shares in Frankfurt, according to people with direct knowledge of the process.

While the size of Haier's share offering has not been finalized, it would likely reach about 1 billion euros (1.2 billion U.S. dollars), the report said.

Haier's listing will kick off the D-share project on China Europe International Exchange (CEINEX), which was established by Shanghai Stock Exchange, Deutsche Börse Group and China Financial Futures Exchange in 2015 in Frankfurt, Germany, to bring China's financial market closer to the international investor community.

CEINEX is the first dedicated trading venue for China and renminbi-related investment products in international markets, and it has been working to enlist prominent Chinese companies for a debut in the new market.

D-shares refer to shares issued in Frankfurt by leading Chinese manufacturing companies that are looking to expand overseas.

Haier responded that it is studying the feasibility of issuing D-shares in Germany, but has not hired any professional institute to deal with the issuance, and no internal decision has been made on the matter.

Founded in 1984, Haier is the world's leading brand of major household appliances and is now transforming from a traditional manufacturer to an open entrepreneurship platform. Haier said it aims to become a global leader in the internet of things era.

In 2017, its global revenues were 241.9 billion yuan (38.4 billion U.S. dollars), up 20 percent year-on-year, and its profit surged 41 percent. Revenue from overseas markets accounted for 40 percent of the entire group last year.

The company, with 10.5 percent share of the global market for home appliance products in 2017, ranked first for the ninth time, according to consultancy firm Euromonitor. In 2016, it acquired General Electric Co's appliance business for 5.4 billion U.S. dollars.

Email: tanyuhan@nbd.com.cn