Deals

Xiaomi IPO Could Value Smartphone Giant at Half Its Initial Goal

Xiaomi has set tentative terms for the world’s biggest IPO in nearly two years. Bloomberg’s Stephen Engle reports.(Source: Bloomberg)

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By Crystal Tse

June 21, 2018 at 12:36 AM UTC

This article is for subscribers only.

Xiaomi Corp.’s highly-anticipated Hong Kong initial public offering could value the Chinese smartphone giant at as little as $53.9 billion, roughly half its initial goal.

Beijing-based Xiaomi started marketing the deal to investors Thursday, touting cornerstone investments from U.S. wireless-chip giant Qualcomm Inc. and SF Holding Co., the Chinese equivalent of FedEx Corp. The company and existing investors are offering 2.18 billion shares at HK$17 to HK$22 apiece.