The Hong Kong Stock Exchange has approved Xiaomi’s planned initial public offering. Xiaomi passed its listing hearing on 7 June, Bloomberg reports, citing unnamed sources with knowledge of the matter. According to the same sources, Xiaomi plans to start attracting investor demand in the next few days.
Xiaomi has been seeking around USD 10 billion from the IPO, people familiar with the matter said. Citic Securities unit CLSA, Goldman Sachs and Morgan Stanley are joint sponsors of the Hong Kong IPO, according to a stock exchange filing in May. Credit Suisse Group, Deutsche Bank, JPMorgan Chase and six Chinese banks are also helping to arrange the share sale, people familiar with the matter also said.
