The Chinese securities regulator has disclosed the Chinese Depository Receipts (CDR) issuance application of smartphone maker Xiaomi Inc this morning, making the first such listing in the domestic stock market one step closer to the finish line. According to local Chinese media reports, investors are submitting bids to become cornerstone investors in Xiaomi’s dual listing at a valuation of between US$75 billion to US$80 billion. The company’s planned listing in Hong Kong, which is happening concurrently with its CDR issuance …

Xiaomi’s CDR Application Disclosed By Chinese Regulator, Company Registered $5B In Revenues For Q1 appeared first on China Money Network.


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