Whirlpool Group's wholly-owned subsidiary plans to subscribe for $30 million worth of shares, and Whirlpool will resume trading starting February 26.

Beijing Business Daily (Reporter Wang Manlei) — On the evening of February 25, Whirlpool (600983) announced that its wholly owned subsidiary, Guangdong Whirlpool Home Appliance Co., Ltd., plans to directly or through its wholly owned subsidiary subscribe to approximately 434,800 shares of common stock issued by Whirlpool Corporation, a company listed on the New York Stock Exchange, for about $30 million. The company’s stock resumed trading on February 26.

Whirlpool stated that regarding the transaction where its wholly owned subsidiary intends to subscribe to Whirlpool Corporation’s common stock, Whirlpool plans to disclose relevant information related to this transaction before the market close on February 25. The company applied for an emergency suspension of trading with the Shanghai Stock Exchange before the market opened on February 25, and trading was suspended for the entire day.

This transaction involves overseas investment and still requires filing procedures for overseas investment, and may also involve approval and/or filing procedures with other relevant authorities within and outside China. Whether the transaction can be approved and/or filed and the timing of such approval remain uncertain.

It is understood that Whirlpool Corporation is the actual controller of Whirlpool Investment, which holds a 19.9% stake in Whirlpool. According to the Shanghai Stock Exchange Stock Listing Rules, Whirlpool Corporation is considered an affiliated party of the company.