Despite a lukewarm reception at the Hong Kong stock exchange, Chinese smartphone maker Xiaomi has made its management richer.
Among the major gainers is vice president Manu Jain, the only Indian or rather the only non-Chinese in the company’s senior management, reported Business Line.
Jain holds about 22.88 million shares of Xiaomi, which at the last trading price of about HK$16.5 translates into roughly Rs 320 crore, the report said.
Xiaomi has over 500 employees, a large number of whom have been given employee stock options (ESOPs).
However, for most of them the ESOPs get vested only after five years, which means they’ll have to wait before they can reap the benefits of the company’s IPO, according to the report.