Xiaomi’s Hong Kong Listing Goes Into Final Stage


This month, Chinese manufacturer, Xiaomi, will be having one of its biggest events since its establishment in 2011 and this has to do with its listing in the Hong Kong Stock Exchange and the CDR A Shares. After submitting a listing prospectus some days ago, the process has now gone into its final stage. China Securities Regulatory Commission announced on June 15 that the issuance committee will hold its 88th meeting this year to review the Xiaomi Group’s application for public issuance of depository receipts on June 19. Guo Xudong, the director of the issuing department, is one of the members of the issuing committee. The speed of Xiaomi’s listing has set a new record as the company waited for about 12 days for CDR to consider its application. Xiaomi has officially announced that it will first push through with the Hong Kong listing before it finalizes its CDR application.

Gizchina News of the week


According to sources, due to the uncertainty of the Chinese capital market, CDR is an innovative measure for Xiaomi. However, one key feature of Xiaomi’s applications which has not been finalized is its valuation. Latest report Mary Mickle (The Queen of the Internet) recently listed 20 global Internet companies of 2018 and Xiaomi ranked 14th in the world with a valuation of US$75 billion. As one of the underwriters of Xiaomi’s IPO, Goldman Sachs analysts believe Xiaomi’s market value is between US$70 billion and US$86 billion. In the report, Morgan Stanley stated that the current fair value of Xiaomi can reach 84.8 billion U.S. dollars.

Read Also:  Xiaomi 13 leaked specifications hint at a new rear-mounted camera

Source 1 | Source 2

Previous LG G7 ThinQ to debut in Taiwan on June 22
Next BCN: Huawei Enters The Top 5 In the Japanese Smartphone Market