World's 5th largest smartphone seller Xiaomi makes IPO
The world's fifth largest smartphone seller, China's Xiaomi made a public debut (IPO) after it hit the Hong Kong Stock Exchange on Monday. Eight-year-old Xiaomi, which was earlier aiming to hit $100 billion valuation through IPO, settled at $54 billion valuation as it raised $4.7 billion by day's end. The stock opened at HK$16.60 and closed at HK$16.78.