Chinese smartphone and electronics company Xiaomi Inc. has submitted an application with Chinese securities regulators to issue Chinese Depository Receipts (CDR), according to Chinese media reports citing insiders. Xiaomi will be the first company that issues CDRs, having submitted its application immediately after China Securities Regulatory Commission (CSRC) issued trial rules for issuance and trading of CDRs on Wednesday night. It is reported that Xiaomi’s CDR prospectus could be released online as soon as today. An insider told Chinese media …

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