China’s Xiaomi to postpone its mainland CDR offering

BEIJING (Reuters) – China’s Xiaomi Corp [XTC.UL] said on Tuesday it will postpone its mainland share offering until after it completes its listing in Hong Kong.

FILE PHOTO: A booth of Chinese smartphone maker Xiaomi is seen at an industrial design expo in Wuhan, Hubei province, China December 3, 2017. REUTERS/Stringer/File Photo

Xiaomi said it would submit an application to China’s securities regulator to postpone the ongoing review of its China depository receipts offering application. It did not say when it would restart its CDR application process or why it was postponing the mainland offering.

China Securities Regulatory Commission said in a separate statement it would suspend the review of Xiaomi’s CDR application.

Reporting by Beijing Monitoring Desk; Editing by Stephen Coates

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