Xiaomi will today take its $6bn offering to investors after a rollercoaster run-up to a planned initial public offering that originally aimed to raise as much as $10bn.
The Beijing-based smartphone maker did not comment on the pricing, which bankers said could change given recent market volatility. It is aiming to list on the Hong Kong exchange early next month, according to two bankers with knowledge of the situation.
This week it postponed plans for what was to have been China’s first depositary receipt, which allow companies to have a secondary listing in the country. They are aimed at some of China’s biggest and fastest-growing companies, many of which are overseas listed and effectively out of bounds for mainland investors.
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