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Xiaomi applies for IPO in Hong Kong with dual-class shareholding structure

(Xinhua)    14:27, May 03, 2018

HONG KONG, May 3 (Xinhua) -- Chinese tech giant Xiaomi on Thursday officially submitted its IPO application to Hong Kong Exchange 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 which allows companies with dual-class shareholding structures and biotech firms with no revenue to apply for listing.

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.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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