Chinese authorities have asked smartphone maker Xiaomi to list its shares on the mainland, people familiar with the situation told the Wall Street Journal. It already plans a Hong Kong initial public offering for the second half of the year and may consider a dual listing.
Xiaomi aims to raise at least USD 10 billion, the paper's sources said, which would make the IPO one of the largest globally this year. The company is targeting a valuation of USD 80-100 billion, one of the people said. Xiaomi was valued at nearly USD 46 billion when it last raised funds privately in 2014.
A Xiaomi spokeswoman declined to comment.
