China’s smartphone maker Xiaomi delays its CDR offering

Chinese smartphone manufacturer Xiaomi has abruptly postponed its plan to list on Mainland China’s stock exchanges.

On June 19, the company stated via its official account on Weibo that after serious consideration it will issue its China Depositary Receipts (CDR) only after completing its initial public offering in Hong Kong.

The company asked the China Securities Regulatory Commission to delay reviewing its CDR files. The regulatory commission replied saying it will respect Xiaomi’s decision and canceled the already scheduled review.

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom