Xiaomi CEO Says IPO of Chinese Mobile-Phone Maker Won't Be Soon
- CEO Lei Jun speaks to reporters at opening of NPC meetings
- Lei says he wants Xiaomi's IPO to be a natural process
Xiaomi CEO Lei Jun. Photographer: Wang Zhao/AFP via Getty Images
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Xiaomi Corp. Chief Executive Officer Lei Jun said the Chinese handset maker, valued at $45 billion by a 2014 funding round, wasn’t planning a public listing “at the moment.”
Lei, speaking to reporters at the opening of the National People’s Congress in Beijing Saturday, said he wants Xiaomi’s initial public offering to be a natural process and noted that he is already the de facto controller of several publicly traded companies. While not ruling out a listing for Xiaomi, he said it would not be for “the time being.” Asked how he would define “time being,” Lei smiled without answering.