© Reuters. FILE PHOTO: Xiaomi brand is seen subsequent to a smartphone of the identical model on this illustration taken September 28, 2021. REUTERS/Dado Ruvic
SHANGHAI/BEIJING (Reuters) – China’s securities watchdog denied market rumours on Tuesday that Chinese language regulators had launched probes on firms in Xiaomi (OTC:) Corp’s industrial chain or restricted such companies’ itemizing plans.
The China Securities Regulatory Commision (CSRC) was responding to social media articles claiming regulators have been stepping up scrutiny over Xiaomi-invested firms, a few of that are in search of listings.
CSRC mentioned it will proceed to vet preliminary public providing (IPO) plans based on related guidelines and laws, saying it will deal with all candidates pretty and maintain coverage expectations steady.
“We hope market individuals do not imagine in or unfold rumours and work collectively to safeguard a sound market setting,” CSRC mentioned in a press release.
Xiaomi, the Chinese language smartphone maker, mentioned in a press release on Tuesday it had launched a lawsuit in response to “fabricated and baseless rumours” on-line about its industrial chain and funding actions.
Xiaomi informed Reuters that they had no additional remark.
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