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Xiaomi postpones plan to sell shares in China alongside Hong Kong IPO
2018-06-19T09:28:23Z - Jon Russell / TechCrunch
Chinese smartphone giant Xiaomi has shelved a plan to sell shares in China in conjunction with its imminent Hong Kong IPO. The company will instead go public in Hong Kong first and consider the potential for a Chinese offering at a later date. The news is a blow to China, which is reportedly scouting out promising tech companies with a viewing to issuing China depositary receipts (CDRs) on Chinese stock exchanges. In filing for CDRs, Xiaomi gave away a little more financial information ahead of its public market debut. This is, after all, a company that’s shooting for a $100 billion valuation.

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