Qingdao Haier debuts in the Frankfurt Stock Exchange, Oct. 24, 2018. (Photos: Li Qiang/People's Daily)

Frankfurt (People's Daily) - Chinese home appliances maker Qingdao Haier on Wednesday began trading shares in Frankfurt, the first issuer in the D-share project on the China Europe International Exchange (CEINEX).

Haier is the first Chinese company to list on the regulated market of the Frankfurt Stock Exchange (FSE) through the D-share project, D for “Deutschland” or “Deguo,” the name for Germany in Chinese.

The company raised about €278 million, or $318 million, as its shares opened at price of €1.06 apiece, slightly above the offer price.

“Today we celebrate the opening of a new bridge between China’s and Europe’s financial markets,” said Chen Han, co-chief executive officer of CEINEX. “CEINEX is looking forward to further establishing its platform and grow the D-Share Market with more Chinese blue-chips in the future.”

The D-share market is designed to promote the issuers’ business expansion by raising capital and credibility in Europe and help global investors to invest in Chinese companies directly from Europe.