Xiaomi launches $10bn Hong Kong listing
May 3, 2018
Chinese smartphone maker Xiaomi has filed to list on Hong Kong stock market, in a move that is expected to raise up to $10 billion (€8.35bn).
The stock market flotation will be the world’s biggest debut in 2018 accordng to the BBC, and the largest since fellow China tech giant Alibaba’s raised $25 billion in 2014.
As well as China, Xiaomi is a major player in India where it rivals Samsung to be the most the popular handset maker. Last year the Xiaomi moved into the Spain market and reports suggest it is also looking to get into the US to take on Apple.
While it has not revealed how much it is hoping to raise in the initial public offering (IPO), the analyst estimate of $10 billion would value the firm at just short of $100 billion.