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XIAOMI-W Still Slumps 5%+ Once after Denying Rumor of Lei Jun Leading Selloff of Xiaomi Stock
Recommend 42 Positive 61 Negative 66 |
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XIAOMI-W (01810.HK) came under renewed pressure this afternoon (1st), diving as much as 5.5% to bottom at HKD46.5, testing its 50MA support. The stock last stood at HKD47.8, down 2.85%, with a trading volume of 280 million shares and a turnover of HKD13.563 billion. Wang Hua, General Manager of Xiaomi Group’s Public Relations Department, addressed recent reports about a new round of financing via share placement. He clarified market rumors suggesting "Lei Jun leading a sell-off of Xiaomi stock", calling it a misunderstanding of a routine Hong Kong stock market operation. Wang explained that in a stock increase on Hong Kong market, major shareholders would first sell their existing shares to independent third-party investors, after which the company issues an equivalent number of new shares to the major shareholders. This process radically shortens the transaction timeline and is not a case of major shareholders reducing their holdings in the company. AAStocks Financial News |
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