Xiaomi is in talks with investment banks about a possible initial public offering and seeking a valuation of at least USD 50 billion, people familiar with the matter told Bloomberg. The Information reported earlier that Xiaomi is considering an IPO as early as the second half of 2018. Hong Kong is considered the most likely stock market.
Xiaomi last raised money in 2014 at a USD 46 billion valuation. After building a strong base in China and India, the company has shifted to Europe and southeast Asia in the past year, opening its first stores and quickly growing sales. A successful IPO may raise USD 5 billion in cash to fuel the expansion, the report said.
A Xiaomi spokesperson declined to comment.
