Lei Jun Sold and Bought 1 Billion Xiaomi Shares

The Xiaomi Group disclosed on the Hong Kong Stock Exchange that the company’s chairman Lei Jun recently sold and subscribed for 1 billion shares of Xiaomi at the same price. Lei Jun’s corresponding operation carried out with the additional work does not involve any reduction of its own shares or holdings.

Xiaomi shares

The new issuance process is that the major shareholder (Lei Jun) first sells the shares. And then the major shareholder (Lei Jun) subscribes for the same number of new shares from the company. And after what, the final major shareholder (Lei Jun) holds the same number of shares.

Read also: Xiaomi Smartphone Has Ranked Third In The European Market

At present, the Hong Kong Stock Exchange has also uploaded three sets of disclosure forms:

The first group is that on December 1, the relevant major shareholder (Lei Jun) signed a sale agreement. And the number of shares of the major shareholder (Lei Jun) has not changed. Because the shares have not yet been settled.

The second group was also on December 1. That day the relevant major shareholder (Lei Jun) signed an agreement to subscribe to 1 billion shares. And the number of major shareholders (Lei Jun) increased by 1 billion shares.

The third group is the settlement date on December 4, when the number of shares of the major shareholder decreased by 1 billion shares, returning to the original number of shares held before the transaction.

Xiaomi has previously announced that it intends to place 1 billion shares on an old-to-new basis. At the same time, it intends to issue convertible bonds with an initial conversion price of HK$36.74. The two transactions involved a total of approximately US $4 billion.

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