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.

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Jiefei Liu

Jiefei Liu is a Beijing based tech reporter. She focuses on the union of tech and content creation and loves agriculture. You can write to her at Jiefei@technode.com