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This press release shall not, and is not intended to, constitute an offer to sell or an invitation or solicitation of an offer to buy or subscribe for the securities of Xiaomi Corporation in the United States or any other jurisdiction. The securities referred to herein may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended (the “Securities Act”) or an applicable exemption from the registration requirements of the Securities Act. The securities referred to herein have not been and will not be registered under the Securities Act or any state securities laws of the United States, or under the applicable securities laws of Australia or Canada. No public offering of the securities referred to herein will be made in the United States or in any jurisdiction outside of Hong Kong.
This press release contains forward-looking statements and you are cautioned not to place undue reliance on any forward-looking statements contained herein. We can give no assurance that these forward-looking statements will prove to have been correct. Expectations reflected in these forward-looking statements are subject to change and we undertake no obligation and do not intend to update or revise any forward-looking statements herein.
This press release is for information purpose only. It does not constitute or form part of and should not be construed as, a prospectus or other offering document or an offer or invitation to acquire, purchase or subscribe for any securities nor is it intended to invite any such offer or invitation. Any decision to purchase securities in the offering should be made solely on the basis of the information contained in the offering circular or prospectus prepared in relation to the offering.
For Immediate Release 6 July 2018
(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)
(Stock Code: 1810)
(6 July 2018 – Hong Kong) Xiaomi Corporation (“Xiaomi” or the “Company”, stock code: 1810) today announced the allotment results of the international offering (the “International Offering”) and the Hong Kong public offering (the ‘‘Hong Kong Public Offering’’, together with the International Offering, the “Global Offering”) of its Offer Shares.
The Offer Price of the Offer Shares of the Company has been determined at HK$17.00 per Offer Share. A total of 110,016 valid applications have been received pursuant to the Hong Kong Public Offering on WHITE and YELLOW Application Forms and through giving electronic application instructions to HKSCC via CCASS and through the White Form eIPO Service (www.eipo.com.hk) for a total of 1,034,986,800 Hong Kong Offer Shares, equivalent to approximately 9.5 times of the total number of 108,980,000 Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering.
The Offer Shares initially offered under the International Offering have been moderately over-subscribed. The final number of Offer Shares allocated to the placees under the International Offering is 2,397,542,000 Offer Shares, representing approximately 110% of the total number of Offer Shares initially available under the Global Offering (assuming the Over-allotment Option and the options granted under the Pre-IPO ESOP are not exercised).
In connection with the Global Offering, the Company and the Option Grantors have granted to the International Underwriters the Over-allotment Option, exercisable by the Joint Representatives on behalf of the International Underwriters, within 30 days from the last day for lodging applications under the Hong Kong Public Offering (the last day for exercise of the Over-allotment Option being Saturday, 28 July, 2018) to require the Company to issue up to 201,486,000 New Class B Shares and the Option Grantors to sell up to 125,451,000 Class B Shares, in aggregate representing approximately 15% of the Offer Shares initially available under the Global Offering, at the Offer Price, to cover over-allocations in the International Offering, if any. There has been an over allocation of 326,937,000 Offer Shares in the International Offering and such over-allocation will be settled using Class B Shares to be borrowed under the Stock Borrowing Agreement between Morningside China TMT Fund I, L.P. and the Stabilizing Manager. Such borrowed Class B Shares will be covered by exercising the Over-allotment Option or by making purchases in the secondary market at prices that do not exceed the Offer Price or by a combination of these means. In the event the Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s website at www.hkexnews.hk and the Company’s website at http://www.mi.com. As of the date of this announcement, the Over-allotment Option has not been exercised.
About Xiaomi Corporation
Xiaomi is an internet company with smartphones and smart hardware connected by an IoT platform at its core. Under the leadership of Lei Jun, Xiaomi was founded in 2010 by a group of accomplished engineers and designers, who believed that high-quality and well-designed technology products and services should be accessible to the world. The company’s mission is to relentlessly build amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology. With presence in more than 70 markets worldwide, Xiaomi is a global player that has successfully achieved a foothold in key international markets.
To all Xiaomi employees:
Today is a historic day for Xiaomi. At the Mi 6X launch event in Wuhan earlier today, we promised our