In 12 days, it was the time when Xiaomi Group was accepted by the China Securities Regulatory Commission from the application materials and it was officially put on trial.
On the evening of June 15, the China Securities Regulatory Commission issued a report that Xiaomi’s China Depositary Receipt (CDR) will be reviewed during the work meeting of the 88th Issuance Review Committee held in June 2018.
The 21st Century Business Herald reporter noted that Xiaomi applied to the Securities Regulatory Commission for the issuance of the CDR on June 7 and was accepted on the same day. On June 14th, Xiaomi updated the prospectus and received feedback from the Securities Regulatory Commission on the evening of the same day. .
As a result, Xiaomi released the CDR queue time, only before and after 12 days.
According to the information released in the June 14 update of the prospectus, Xiaomi’s CDR fundraising may reach more than US$4.9 billion, equivalent to more than RMB 31 billion. Because of the huge amount of financing, taking into account the current A-shares’ pressure- bearing capacity , Xiaomi's issuance of the CDR is considered very likely to be taken once again by the strategic allotment approach adopted by the Foxconn IPO.
It is worth noting that in the feedback on the evening of the 14th, the Securities and Futures Commission conducted a strict 'questioning' and 'penetration' of Xiaomi's CDR issue in 30 pages, more than 24,000 words and 84 questions.
However, for the prediction of the outcome of the Xiaomi issue CDR, the market generally believes that there will be a high probability event, even a 'no suspense event'.