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Xiaomi confirms that the issue price of IPO will be listed on July 9th.

Tencent Technologies News reported that Hong Kong's first XIAOMI (01810-HK) share offering of "different rights in the same share" was closed yesterday. Market news said that about 110,000 people had subscribed to the public offering, over-subscribed more than eight times, and the capital frozen was about 23 billion Hong Kong dollars. XIAOMI will determine the issue price of IPO today, listing in July 9th. The market has news of XIAOMI or consider a price limit, XIAOMI previously announced price range of 17-22 Hong Kong dollars.

Investors believe that although XIAOMI's subscription response was significantly inferior to that of the new economy stocks (see table below), the IPO came at a time when Hong Kong stocks fell sharply and the Hang Seng Index fell by a thousand points, making it difficult to complete a huge fund-raising. As for the risk of "diving" when listing, it is still dominated by the recent weakness of Hong Kong stocks.
No 550 thousand callback operators were started.

Since the public offering does not exceed the purchase by 15 times or more, the call-back mechanism will not be activated and the public offering will maintain a 5% share. XIAOMI will officially announce its distribution results next Friday (July 6) and be listed on the Hong Kong Stock Exchange (00388) on July 9.

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