In July 9th, millet was officially listed on the Hong Kong stock exchange. The issue price was HK $17, with an opening price of HK $16.6, closing at HK $16.8 on the same day and closing at HK $19 the following day.
Whether they are concerned about the investment or watching the excitement, we can see that the name of Xiaomi's stock is as follows in the inquiry about Xiaomi's stock price or in the relevant reports.
In fact, this W refers to
The same share of different rights refers to the same share share with different voting rights, also known as dual equity structure and AB share structure.
The shares of the company with the same share are divided into two stocks with high and low voting rights. The high voting shares have 2 to 10 votes per share, which are called B shares, one share and no voting rights are called class A shares, and the high voting shares are generally held by the management.
For example, millet here, B stocks only Lei Jun, Lin Bin hold, 10 times a share of voting rights per share, including the proportion of 31%, but has about 54% of the voting rights.
The different rights structure of the same stock is often seen in the Internet technology enterprise and the enterprise. The reason is that the founders often have limited financial resources and have to introduce the investors through multi round financing, so the founders' financial shares tend to be greatly diluted, and the different rights of the shares can allow the founders to continue to control the company under the situation of less shareholding.
Many of the world's well-known enterprises have taken the same shares of different rights, including Google, Facebook, VISA and so on, BATJ four giant Baidu, Alibaba, Jingdong are also, only Hongkong listed Tencent holding is the same share rights.
After nearly four years of research, the HKEx opened to the same shares of different rights structures in April 30, 2018, and Alibaba chose to go to the United States because it failed to wait for the moment.