Chinese smartphone maker Xiaomi is planning to go public later this year in Hong Kong and is seeking a valuation of about $200bn. It is choosing Hong Kong rather than the US as it believes Hong Kong retail investors are more familiar with Xiaomi products and its founder, Lei Jun, has been meeting investment bankers since last November. After falling sales in 2016, growth at Xiaomi revived in 2017, primarily due to the company opening offline retail stores and expanding overseas, particularly into India. The company’s shares have risen by almost 50% over the past 12 months on hopes that China will be an important market for the company.
Chinese smartphone maker Xiaomi is planning to go public later this year in Hong Kong and is seeking a valuation of about $200bn. It is choosing Hong Kong rather than the US as it believes Hong Kong retail investors are more familiar with Xiaomi products and its founder, Lei Jun, has been meeting investment bankers since last November. After falling sales in 2016, growth at Xiaomi revived in 2017, primarily due to the company opening offline retail stores and expanding overseas, particularly into India. Xiaomi's annual revenues were $15bn to the end of October.