According to the China Securities Regulatory Commission’s announcement, the 17th issue review committee of the China Securities Regulatory Commission is scheduled to hold the working meeting of the 88th Issuance Review Committee of 2018 on June 19, 2018 to review the Xiaomi Group's public offering of depository receipts (CDR). As a result, Xiaomi released the CDR queue time, only before and after 12 days.
This speed is far faster than Foxconn, the fastest ever this year. Foxconn Industrial Internet (hereinafter referred to as the "Industrial Rich Alliance") submitted the manuscript report on February 1 and met on March 8 in 36 days. .
On June 11, the official website of the China Securities Regulatory Commission formally disclosed Xiaomi Group’s “public offering of depository receipts and listing” documents. Xiaomi CDR’s sponsor is CITIC Securities, and the proposed listing location is the Shanghai Stock Exchange. If this review is passed, Xiaomi will officially become domestic The first company to issue CDRs. According to the prospectus, CDR and Hong Kong stocks will be issued simultaneously. The prospectus also makes it clear that Xiaomi will use mainland China stock exchanges as the main listing.
As the currently disclosed Xiaomi CDR prospectus is still only a report, the specific issuance plan, CDR issue price, amount of funds raised and other information have not yet been announced. However, according to the prospectus, 30% of the funds raised are used to develop core independent products. 30% is used to expand and strengthen the ecological chain of major industries such as IoT and consumer products, mobile Internet services (including artificial intelligence), and the remaining 40% is used for global expansion.
The prospectus shows that since the millennium was founded eight years ago, it has gone through five rounds of financing, and the amount of financing has exceeded US$1.4 billion. Lei Jun has become the actual controller of Xiaomi through a trust established overseas and owns 57.9% of the voting power of the company.