Xiaomi to postpone its China depository receipts offering

Finance


Anthony Kwan | Bloomberg | Getty Images

Signage for Xiaomi Corp. is illuminated inside one of the company’s stores in Hong Kong, China.

China’s Xiaomi Corp said on Tuesday it will postpone its mainland share offering until after it completes its listing in Hong Kong.

Xiaomi said it would submit an application to China’s securities regulator to postpone the ongoing review of its China depository receipts offering application.

It did not say when it would restart its CDR application process or why it was postponing the mainland offering.

China Securities Regulatory Commission said in a separate statement it would suspend the review of Xiaomi’s CDR application.

In a separate statement to CNBC, a Xiaomi representative said the company will continue to focus on its Hong Kong initial public offering.

— CNBC contributed to this report.



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