Deals
Xiaomi Set Terms for Up to $6.1 Billion Hong Kong IPO
- China smartphone giant prepares world’s biggest IPO in 2 years
- Company plans to offer IPO shares at HK$17 to HK$22 apiece
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Xiaomi Corp. has set tentative terms for the world’s biggest initial public offering in nearly two years, aiming to raise as much as $6.1 billion in Hong Kong, people with knowledge of the matter said.
The Chinese smartphone maker and existing investors plan to offer 2.18 billion shares at HK$17 to HK$22 apiece, according to the people, who asked not to be identified because the information is private. China Mobile Ltd., the nation’s biggest wireless carrier, and U.S. wireless-chip giant Qualcomm Inc. are among firms in talks to become cornerstone investors, the people said.