Chinese smartphone maker Xiaomi temporarily halted trading of its shares in Hong Kong on Wednesday after it failed to disclose a multibillion-dollar top-up placement in time for the market to open, AFP reported. It resumed trading in the afternoon once a full disclosure of a share and bond sale was published. 

Its shares were down by more than 6%.

Also read: Salesforce to buy Slack for $27.7 billion

The unusual halt came just after the business began on Wednesday with a brief statement to the stock exchange and remained in place throughout the morning.

In its disclosure filing to the stock exchange, Xiaomi said it plans to sell 1 billion shares at HK$23.70 a piece, raising $3.1 billion.

It also proposed the sale of convertible bonds, raising a net $855 million.

Hong Kong’s stock exchange requires a company to apply for a trading halt if certain inside information has been made public before an official disclosure.

“It’s definitely unusual because other companies which had share placements usually file the official announcements soon after pricing,” Castor Pang, head of research at Core Pacific-Yamaichi International Hong Kong, told Bloomberg News.

Also read: Apple agrees to pay another $113 million over iPhone battery complaints

Xiaomi’s shares have risen by over 140% this year. It has been boosted by troubles with its competitor, Huawei, China’s number one smartphone-maker that has been battered by US sanctions.

The share and bond sale will help the company boost its coffers to grab more market share from Huawei.