Xiaomi to give 1000 shares to workers after making it to Fortune 500 list

Beijing: Chinese smartphone manufacturer Xiaomi to gift 1,000 free company shares to 20,538 of its co-workers, worth a total of HK$187.5 million, to celebrate the company being included in the latest Fortune 500 global company list for the first time, news portal GizmoChina reported on Tuesday.

Out of 1,000 shares of Xiaomi stocks, 500 shares serve to celebrate the Global 500 achievement and the remaining 500 are gifted to the family and loved ones of each co-worker and partner.

Founded in April 2010 as an Internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, Xiaomi was also named in Fortune’s China 500 list for the first time in June, ranking 53rd.