Qingdao Haier Co., Ltd. (SHSE:600690) announced a private placement of A common shares with specific investors on September 29, 2013. The transaction has been approved at the company's 3rd session of 8th directorate meeting.

On September 30, 2013, the company announced that it will issue 299,545,505 A common shares at CNY 11.29 per share for gross proceeds of CNY 3,381,868,751.45. New investor KKR Home Investment S.à r.l, a wholly owned sub-subsidiary of KKR Home Ultimate Holdings Limited, an entity managed by Kohlberg Kravis Roberts & Co. L.P. will subscribe to all the shares for 10% stake in the company through KKR Asian Fund II L.P. As a part of the deal, a representative from the investor will join the board of directors. The transaction is subject to approvals from shareholders, Ministry of Commerce, and the China Securities Regulatory Commission. Xu Ping of King & Wood Mallesons led the team including Song Yanyan and Li Qiang as legal advisors to the company in the transaction. Jack Lange, Greg Liu, Christopher Poggi, Qi Xu, Sue Yang, Catherine Ying, Manuel Frey, Dale Sarro, and Patrick Karsnitz of Paul, Weiss, Rifkind, Wharton & Garrison LLP will act as the legal advisors to the investor. Credit Suisse Group AG, New York Branch acted as exclusive financial advisor to Kohlberg Kravis Roberts & Co. for the transaction.

On October 23, 2013, the company announced that the transaction has been approved at the 1st special Shareholders' Meeting of 2013.

On April 25, 2014, the company announced that China Securities Regulatory Commission has approved the issuance of not more than 305,273,505 new shares in the transaction for gross proceeds of CNY 3,446,537,871.45. China International Capital Corp. Limited will act as the sponsor and the lead underwriter for the company.

On July 21, 2014, Qingdao Haier Co., Ltd. closed the transaction. The company issued 302,992,994 shares at a price of CNY 10.83 per share for gross proceeds of CNY 3,281,414,125.02