Xiaomi Declares to Target No Less Than $6.1 Billion in Hong Kong IPO

  • Xiaomi developer is planning to target around $6.1 Billion from Hong Kong IPO launch.
  • Xiaomi is also deciding to trade around 2.18 billion shares at a cost of HKD 16 to HKD 22 and offer 65% of the total shares in the public offering.
  • The Chinese developer got furious with the delay in mainland offerings.

As per the recent sources, the developer of Chinese Smartphone Xiaomi corp is targeting to gain about $6.1 Billion i.e., 41,500 crores in Indian Rupees from an IPO that is planning to be launched in Hong Kong in the coming week. Xiaomi is often considered to be the maker of Internet-connected devices and is all set to trade 2.18 billion of the company’s shares in the form of public offerings (PO). Around 65 percent of its initial shares would be sold as public offerings; each share costing around HKD 16 to HKD 22, confirmed two major members belonging to the company.

Cayman-domiciled Beijing-based Company decided to offer its 65 percent of shares as public offerings.

According to the statement of the people and rumors spreading around, this Beijing-based Company has also planned to join hands with 8 keystone and famous investors. These investors mainly involve Chinese Express delivery Company, Domestic telecom service provider, United States Chipmaker Qualcomm, S.F. holding Company, China Mobile, and state-run Conglomerate China Merchants Group, and much more. The statements of the people also specify that these cornerstone investors are going to purchase around 13 to 15 percent of the total shares offered in IPO. However, the news regarding the shares purchased by these cornerstone investors has not been confirmed yet. As this order tends to get altered before the Company would be taking bids from other retail investors on the coming Monday. The Company further mentioned taking orders from the intuitional investors this Thursday.

However, Xiaomi China Mobile and China Merchants team refused to post or answer any query. Furthermore, there is no response received from Qualcomm and S.F. holding and other holders since the news is not been publicized yet.

A delay in mainland share offering reported by Xiaomi Company this Tuesday

According to the recent reports, Xiaomi has decreased its assessment to $60 to $70 Billion along with its verdict of delaying its mainland share offering till IPO launch in Hong Kong. The delay is mainly reported due to a huge combat held between the regulators and the Company regarding the evaluation of its CDRs (China Depository Receipts).

The delay in mainland offerings has raised a rage for Chinese officials that mainly developed them as a plan for China to compete globally in terms of tech listings. At the same time, Xiaomi’s epic Hong Kong offering is often termed to be the primary listing in new exchange rules developed to lure tech floats.