China's Midea at 3-week low as Hong Kong offering to be at discount
** Shares of Midea Group 000333.SZ fall 3.7% to 60.68 yuan ($8.54), their lowest since Aug. 16, on their fourth straight session of decline, as the Chinese home appliance maker plans to price shares in Hong Kong offering at discount
** Midea Group on Monday launched a share offering of about HK$26.97 bln ($3.46 bln) in Hong Kong, according to filings, in the city's largest listing in more than three years
** Shenzhen-listed Midea Group has allotted around 492.1 mln shares for the Hong Kong offering with the stock to be priced between HK$52 ($6.67) and HK$54.80 ($7.03) per share
** Midea's Shenzhen-listed shares closed on Friday at 63.02 yuan (HK$69.32) each, which means the Hong Kong shares are being sold at a discount of up to 25%
** The blue-chip CSI 300 Index .CSI300 down 1.1% and the Shanghai Composite Index .SSEC slips 0.9%
** Shenzhen-listed shares up 15.4% YTD
($1 = 7.1081 Chinese yuan renminbi, 7.7958 Hong Kong dollars)
Reporting by Donny Kwok
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