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Bloomberg
Many Xiaomi Corp investors, who could only watch as the stock shed $14 billion in market value, will now be able to join in on the selling.
Expiring on Wednesday is the six-month lockup period that followed the company’s Hong Kong debut, during which some employees and cornerstone investors were banned from disposing of their allocated shares. It’s been painful: Xiaomi has dropped to HK$11.10 from a listing price of HK$17, sinking 7.5 percent as JPMorgan Chase & Co. gave up its buy recommendation on the stock.
More than 3 billion shares will be unlocked, equal to about 19 percent of those outstanding, according to data compiled by Bloomberg.