Xiaomi picks Morgan Stanley, other banks as sponsors for IPO
Chinese smartphone maker Xiaomi has reportedly selected Morgan Stanley and Goldman Sachs among international banks for its planned Initial Public Offering (IPO). Credit Suisse and Deutsche Bank have also been chosen for IPO targeting a valuation of $100 billion, reports added. Xiaomi, which was valued at $45 billion in 2014, could be the biggest IPO since Alibaba's $25 billion debut.