Xiaomi Corp. started taking orders for the world’s biggest initial public offering in nearly two years, sharply curtailing its earlier valuation ambitions as it seeks to raise up to $6.1 billion in Hong Kong.
China Mobile Ltd., the nation’s biggest wireless carrier, and U.S. chip giant Qualcomm Inc. are among firms that agreed to buy Xiaomi stock as cornerstone investors. The smartphone giant expects to take orders from institutional investors through June 28 and aims to start trading in Hong Kong July 9, according to terms for the deal obtained by Bloomberg.
