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KrASIA Weekly: Xiaomi released yet another updated CDR prospectus within the same week

Written by Robin Moh Published on   2 mins read

China CDRs receive welcoming response this week.

Hi there, it’s Robin.

This has been another exciting week for the tech scene both in China and Southeast Asia.

First up, the move made by the middle kingdom last week at opening up its cards to lure the Chinese tech giants back home has started to gain momentum.

Chinese smartphone maker, Xiaomi has filed with the China Securities Regulatory Commission to issue CDR, while Baidu could also become the first overseas-listed Chinese company to relist in China.

Interestingly, only a few days later, on Thursday, Xiaomi released yet another updated version of its CDR prospectus with new highlights.

Meituan-Dianping, a Chinese O2O platform, has also been rumored to have recently completed its pre-IPO roadshow and is well on its way to file with HKEX.

An aggressive fight between Alibaba & Tencent seems to be growing in intensity this week.

With Douyin’s stunning success and its tie-up with Taobao, Tencent responded with an integrated ‘shopping search’ with JD.com this week.

On the other hand, Tencent’s ally, JD.com is also locked in a fierce battle with Alibaba to fight for the best back-end operation to offer a more convenient e-commerce shopping experience.

In the Southeast Asian region, Singapore’s O2O platform giant, Grab countered Go-Jek’s added ammunition offer last week with a new collaboration with Japanese car maker, Toyota.

Grab was also in talks with Chinese ride-hailing giant, Didi Chuxing over its push for self-driving cars.

It’s also noteworthy to mention of SEA’s intentions to raise more funds via the issue of convertible notes as it reported of tripling losses in Q1 following its battles with Alibaba-backed Lazada.

Despite the already growing fight, this week also witnessed  Southeast Asia’s preparation for an impending Islamic-related startup boom.

Read on to find out more interesting stories from last week, and feel free to tip us if you have news clue or you just want to talk with us, email us at [email protected] and we’re looking forward to hearing from you.

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