Deals
Xiaomi CEO Calls China's Plan to Lure Tech Listings ‘Excellent’
- Lei Jun says CDR gives USD-backed tech companies a new chance
- China to allow certain companies to issue CDRs on the mainland
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China’s trial program for encouraging technology giants like Alibaba Group Holding Ltd. to list their shares at home is drawing positive early reviews, a sign their stocks may soon be available in the world’s most populous country.
Lei Jun, co-founder and chief executive officer of smartphone maker Xiaomi Corp., voiced support for the effort to allow companies to issue Chinese depositary receipts in addition to shares traded abroad. His company is said to be preparing an IPO that could be the biggest since Alibaba’s $25 billion debut in 2014.