Chinese Regulators Deny Restricting IPOs for Xiaomi-Related Firms
News emerged recently that regulatory authorities in China had investigated projects involving Xiaomi’s industry chain that are currently under review by Shanghai’s STAR Market and ChiNext, which led to the restriction of their listing process. Xiaomi‘s share price once fell by more than 7% on Tuesday, and as of press time, the share price decline narrowed to 2.62%.
On Tuesday, China Securities Regulatory Commission official website’s Q&A showed that the commission did not issue IPO-related restrictive policies for enterprises affiliated with Xiaomi‘s industry chain, nor did it carry out special investigations. Moreover, the commission stated that it will carry out the listing review according to relevant laws and regulations to ensure fairness.
A Xiaomi spokesperson also issued a statement via Weibo on Tuesday, saying, “Recently, we found that a media actor has published a large amount of distorted, fabricated and groundless rumors about our ecological chain and related investment business. We have filed a lawsuit against the operator behind such media.”
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