Midea Group, the world’s largest maker of white goods by sales, is eyeing significant global expansion of its sales network to encompass 40 countries by 2025.

Fresh off raising US$4.6 billion in Hong Kong’s largest initial public offering (IPO) in more than 3 years the Foshan-headquartered company is looking to markets like Saudi Arabia, Brazil and Africa as part of a focus on burgeoning economies with substantial growth potential, according to Lewis Fu, the company’s president of international business.

The company, which gets almost half of its revenue from overseas markets, relies on outside retail operators in some regions. But it plans to expand its global operations and do a “better job” with its own retail network, particularly in emerging markets where the “growth potential is large”.

“Currently, we have our own sales subsidiaries and organisations in about 30 countries worldwide,” Fu said during a press tour on Thursday. “In the future, we will expand to more than 40.Midea has about 44 manufacturing bases worldwide, half of which are outside China, with more manufacturing facilities “under way in the coming years”, Fu said.