Hong Kong calls Xiaomi for IPO
by Janice Huang
Chinese phone maker Xiaomi is highly likely to list in Hong Kong, and it will be at a possible valuation of as much as US$100 billion (HK$780 billion).
The firm, which is the fourth biggest smartphone maker in China, has hired Morgan Stanley, Goldman Sachs, Credit Suisse, and Deutsche Bank to work on its initial public offering.
The listing may come in the second half of this year and is expected to be the biggest technology IPO in the world, since Chinese e-commerce and technology conglomerate Alibaba Group's US$25 billion debut in 2014.
Analysts say Hong Kong's new reform of the listing rules, which will permit new economy companies with dual-class shares to go public in the city, may help the SAR beat New York in attracting Xiaomi to choose Hong Kong.
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0117&sid=2