On Tuesday, China’s Xiaomi Corp. postponed its mainland share offering until it completed its listing in Hong Kong. To complete the legal procedure, Xiaomi needs to submit an application to China’s securities regulator so as to push back the ongoing review of its China depositary receipts offering application.
The reason for postponing the mainland share is still not known. It also did not say when it would restart its CDR application process.
The security Regulatory of China stated that it would suspend Xiaomi’s CDR application review. Xiaomi Corp. seems to continue to focus on its Hong Kong initial public offering, as stated by a Xiaomi representative to CNBC.
The Chinese smartphone major did not officially confirm why the company delaying the process or when it will start the CDR filing process again.