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Xiaomi scraps its mainland China share offering plan
- Monday | 2nd September, 2019
HONG KONG (Reuters) – Chinese smartphone maker Xiaomi Corp said on Friday it had scrapped a mainland share offering plan in order to focus on its business development. The company filed an application for a public offering of China depositary receipts (CDRs) in mainland China on June 2018. Reuters reported that month that Xiaomi had decided to delay the offering until after its shares debuted in Hong Kong. “Given that the Company is currently focusing on the business development and holds adequate capital, it has decided to terminate the proposed CDR offering,” Xiaomi said in a filing to the Hong Kong stock exchange. (Reporting by Min Zhang and Meg Shen; editing by Emelia sithole-Matarise)Likes
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