Blackmoon, a company based in Moscow, Russia, has offered the world’s fourth-largest smartphone producer Xiaomi to tokenize its initial public offering (IPO), news outlet South China Morning Post reported July 2.
Blackmoon will ostensibly apply the income to subscribe to Xiaomi’s $4.7 billion IPO in Hong Kong, which will commence July 9 on the Hong Kong stock exchange.
The token price offered by Blackmoon is reportedly linked to the performance of Xiaomi shares.
Sergey Vasin, Chief Operating Officer at Blackmood, said: “The price of the Xiaomi token is determined by the IPO price of Xiaomi’s shares, with applicable fees.
After redemption, Blackmoon will trade the Xiaomi stock in the portfolio equal to the value of tokens purchased.

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