Chinese tech giant Xiaomi plans on raising $6.1 billion from its Hong Kong IPO

Xiaomi’s Hong Kong IPO is slated to be one of the biggest tech IPO globally in recent years.

According to sources familiar with the matter at hand, Xiaomi plans on raising $6.1 billion from its planned Hong Kong IPO scheduled for launch this week.

Xiaomi’s Hong Kong IPO is slated to be one of the biggest tech IPO globally in recent years.

Through its IPO, Xiaomi plans on selling nearly 2.18 billion shares at a price range of $2.17 to $2.80 each, said sources.

Sources preferred the cover of anonymity since the information has yet to be made public.

Xiaomi plans to bring in eight cornerstone investors including SF Holding Co Ltd, a Chinese express delivery company, U.S. chipmaker Qualcomm Inc, China Merchants Group Ltd, a state run conglomerate and domestic telecom service provider China Mobile Ltd, said sources.

Cornerstonre investors are expected to purchase around 15% of the shares in the IPO, said sources.

Sources went on to add, Cayman Island-domiciled Xiaomi will open the book to intuitional investors on Thursday.

While Xiaomi declined to comment.

China Mobile, Qualcomm, SF Holding, and China Merchants Group did not immediately respond to a request for comment.

CLSA, Goldman Sachs and Morgan Stanley are joint sponsors for Xiaomi’s Hong Kong IPO.

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