HEADLINE Xiaomi files in Hong Kong for world's biggest IPO since 2014

HEADLINE

Xiaomi files in Hong Kong for world's biggest IPO since 2014

By Wang Yi | People's Daily app

09:24, May 03, 2018

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Chinese smartphone maker Xiaomi files in Hong Kong for world's biggest IPO since 2014 on Thursday with its dual-class shareholding structure .

It has been the first applicant with dual-class shareholding structure since Hong Kong Exchange enacted revised bourse rules on April 30.

According to Xiaomi's application, its shareholding structure will comprise class-A shares and class-B shares.

Lei Jun, chairman and founder of Xiaomi, said in an open letter attached to the application files that his company is not only a smart-phone maker, but also a player with intelligent hardware connected by Internet of Things (IOT) and driven by innovations. 

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A Xiaomi store in Beijing, China, March 31, 2018.  (Photo: Reuters)

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