Xiaomi disembarks in the Hong Kong list, offering 2.18 billion shares at a price of 17 HK $ each
Xiaomi, one of China’s largest smartphone manufacturers, debuted today at the Hong Kong Stock Exchange. Xiaomi thus became the first company, for the past 25 years, which adopts a weighted voting right with dual-class shares, following the reform of the Hong Kong listing regime.
“We would like to thank the Hong Kong Stock Exchange and the Hong Kong Securities Settlement Commission,” said Lei Jun, Xiaomi founder and CEO at the listing ceremony.
“We are an internet company and from day one we have established a weighted structure for voting rights with dual-class shares,” he added with pride.
Xiaomi offered about 2.18 billion shares at a price of 17 HK $ each
Lei argued that without the innovation of Hong Kong-listed capital markets, it would be difficult for Xiaomi to be listed on that list. For Lei, in fact, other high quality Internet companies would have to go to Hong Kong for the listing.
Xiaomi offered about 2.18 billion shares at a price of 17 HK $ each ($ 2.17 US). Its stocks were opened at 1660 Hong Kong dollars ($ 2.11 US) per share.
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