Smartphone maker Xiaomi said it has not authorized and has no connections to an initial coin offering scheme that is selling a token which is said to peg to Xiaomi’s stock price in its upcoming initial public offering.
The Chinese smartphone maker is currently scheduled to go public on the main board of the Hong Kong Stock Exchange on July 9.
Aiming to raise $4.7 billion, Xiaomi’s IPO is seen as one of the most notable public offerings in Hong Kong this year.
And the anticipated IPO appears to have drawn interests from at least one company in the cryptocurrency space.
A Russia-based blockchain investment firm called Blackmoon announced on June 22 that it is offering a token called BMxXMI, whose price will be pegged to Xiaomi’s stock price following its IPO on a dollar-for-dollar basis.

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