Xiaomi cuts valuation to $55-70 billion ahead of IPO: Report
Chinese smartphone maker Xiaomi has reportedly lowered its likely valuation to between $55-70 billion following its decision to delay its mainland share offering until its Hong Kong IPO. The delay came after a dispute between Xiaomi and the regulators over the valuation of its China depositary receipts. Earlier, it was reported the listing could value Xiaomi at $100 billion. 