Company officially on US list
Global index publisher FTSE Russell said will omit Xiaomi from its global and China indexes in line with a US executive order from then-president Donald Trump.
The deletion follows the Trump administration’s placement of Xiaomi on a blacklist of companies with alleged ties to Chinese military, barring US investors from holding shares in the company.
The removal of the Hong Kong-listed stock from FTSE’s Global All Cap index and the FTSE Global China A Inclusion indexes will be effective on March 12, subject to further guidance from the US Office of Foreign Assets Control, it said in a statement.
The Trump administration added Xiaomi and eight other companies to the blacklist in mid-January.
Xiaomi denied it had any ties to the Chinese military. Later that month, the smartphone maker filed a lawsuit against the US government in response.
