Xiaomi expected to launch Hong Kong IPO early next month

Updated 2018-04-27 15:39:06

China's tech company Xiaomi may file its application for an initial public offering to the Stock Exchange of Hong Kong next week, reported securities news portal cs.com.cn Thursday.

This might be the first IPO when IPO applications under dual-class shares structures would be accepted starting April 30. Market insiders said that Xiaomi was confident of a valuation of over 0 billion while rumored valuations varied between about billion and 0 billion.

Charles Li, chief executive of Hong Kong Exchanges and Clearing Ltd, told the Wall Street Journal on April 24 that he was confident that the city will land some of the biggest listings in the future, including Saudi Arabian Oil Co and tech giant Xiaomi .

Key sponsors for Xiaomi's Hong Kong IPO are CITIC Securities, Morgan Stanley and Goldman Sachs, according to Tencent's news portal qq.com.

Xiaomi did not comment on the possible IPO when contacted by chinadaily.com.cn on Thursday.

Lei Jun, founder of Xiaomi, said on Tuesday that the company would cap its after-tax revenue for hardware products within 5 percent and would return revenue above that level to customers in a "reasonable way".

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 22 2019 22:15:09

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 22 2019 22:15:09

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 22 2019 22:15:09

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords