Business· Money Mkt· People

CEO Lei Jun voted against Xiaomi's IPO

minutes 2018/11/08 08:33:44
China's News, China's Financial News, Xiaomi

Nov 08, 2018 (China Knowledge) - CEO of Xiaomi, Lei Jun has said that he did not vote in favor of Xiaomi's IPO this year, he was talking to the reporters at the opening ceremony of 5th World Internet Conference in Wuzhen, yesterday. “It’d be better for the company to apply for an IPO in next two to three years”, Lei told reporters.

He said that, Xiaomi's co-founder Wang Chuan also voted against Xiaomi's IPO, because Wang thinks that Xiaomi is not short of money.

Last year, Mr. Lei briefly denied rumors of Xiaomi's IPO. However, this year his company was listed in Hong Kong Stock Exchange (HKEx). "The decision to apply for IPO this year was made because Xiaomi's board of directors evaluated at the end of last year that Xiaomi had reached the size and timing of the IPO", he said. Besides that, Most of Xiaomi's executives are also supportive of the IPO.

Overall, Lei Jun said that, Xiaomi has been established for eight years, it was time for it to have a taste of the market.

In addition, overseas emerging markets will be the focus of Xiaomi's layout in the future. It is worth mentioned that, Lei pays more attention to the innovation of battery technology, hoping to use this technology to solve the charging problem of smart phones.

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