Xiaomi denies CEO Lei Jun reduced stake amid 800 million share placement

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Xiaomi executives have denied claims that Lei Jun reduced his stake in Xiaomi, as the recent placement of 800 million shares in the Chinese tech and EV company sparked public speculation. Why this matters: On March 25, Xiaomi announced plans to place 800 million shares under the “sell old, buy new” method at HKD 53.25 ($6.84) per share. The 800 million share sales were completed on March 27, Xiaomi announced on Monday. These 800 million shares were sold at HKD 53.25 ($6.84) per share to no fewer than six independent third-party investors. CEO Lei Jun raised the firm’s 2025 new car delivery target from 300,000 to 350,000 during a related earnings call.