Xiaomi releases prospectus for public offering

China's tech giant Xiaomi releases a prospectus officially launching its public offering in Hong Kong on Monday.

Xiaomi will have a 2.18 billion-share global IPO, with a maximum offer price of HK$22 ($2.8) per share and stock code of 1810, according to a prospectus released Monday.

The shares under the global offering consist of 1.43 billion new class-B shares and 745.15 million sale shares, and are subject to the over-allotment option, the prospectus said.

The number of Hong Kong offer shares is about 108.98 million subject to reallocation, and the number of international offer shares is about 2.07 billion, comprising 1.33 billion new class-B shares and 745.15 million sale shares, and subject to reallocation and the over-allotment option.

The nominal value is about $0.0000025 per offer share, according to the prospectus.

As the first company to file a prospectus for issuing China depository receipts, Xiaomi has postponed its application for a CDR offering, while the domestic A-share market has seen a continued downturn in the past few days.