0
Wireless

Xiaomi drops mainland share offering, lowers valuation ahead of IPO

Tuesday 19 June 2018 | 11:33 CET | News
Xiaomi has decided to delay its mainland share offering until after its Hong Kong IPO and has lowered its likely valuation to USD 55-70 billion, Reuters reported. Sources with direct knowledge of the matter said the company was using this valuation in discussions with potential IPO investors. The company in March hoped to raise at least USD 10 billion from the IPO, taking its valuation to USD 80-100 million. Recent pre-IPO research from sponsoring banks valued the group at USD 65-86 billion, Thomson Reuters said.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Xiaomi
Countries: China / Hong Kong / World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Xiaomi raises HKD 24 billion in IPO

Published 06 Jul 2018 09:21 CET | China
Xiaomi has raised HKD 24 billion (EUR 2.6 billion) in net proceeds from its initial public offering of shares, after pricing the ...

Xiaomi kicks off IPO in Hong Kong

Published 25 Jun 2018 09:24 CET | Hong Kong
Xiaomi has confirmed the start of its initial public offering of shares in Hong Kong. The company will sell 108.98 million shares ...

Xiaomi sets IPO price range, signs up 7 key investors

Published 21 Jun 2018 08:50 CET | China
Chinese smartphone maker Xiaomi has set a price range for its IPO in Hong Kong and lined up seven key investors to participate in ...

Xiaomi to raise at least USD 10 bln in IPO, may list also in China - report

Published 01 Mar 2018 13:19 CET | China
Chinese authorities have asked smartphone maker Xiaomi to list its shares on the mainland, people familiar with the situation ...