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Benzinga
Benzinga
Politics
Anusuya Lahiri

Chinese Watchdog Denies Regulatory Probe On Companies Related To Xiaomi

Xiaomi China Alibaba China Securities Regulatory Commission Xiaomi Corp
  • China's securities watchdog denied rumors of a regulatory probe on companies in Xiaomi Corp's (OTC:XIACY) industrial chain or restrictions on their listing plans, Reuters reports.
  • The China Securities Regulatory Commission looked to continue to inspect initial public offering plans according to relevant rules and regulations.
  • Also Read: Here's How Alibaba's Buyback Boost Could Win Back Investors In China's Internet Sector
  • Xiaomi acknowledged filing a lawsuit due to fabricated and baseless rumors online about its industrial chain and investment activities.
  • Price Action: XIACY shares traded lower by 1.23% at $9.22 on the last check Tuesday.
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