Xiaomi files for world's biggest IPO since 2014

Xiaomi, a Chinese Start-Up, Picks Hong Kong for a Major IPO

Xiaomi submitted a heavily redacted filing to the Hong Kong exchange late on Wednesday laying out its financial details in what appeared to set the stage for a full IPO announcement.

Xiaomi, reporting detailed financials for the first time, posted a net loss of 43.9 billion yuan in 2017, reversing from a meagre profit a year earlier. The Wall Street Journal, citing a source familiar with the matter, reported that Xiaomi was looking to raise at least $10 billion that could value the company at around $100 billion. In addition, Xiaomi devices on the Three network will become available in Watson's Fortress, Superdrug, and Kruidvat stores in the UK, Hong Kong, Ireland, and the Netherlands.

Apart from smartphones, Xiaomi has also supported dozens of startups producing a wide spectrum of products, which includes wearables to rice cookers.

Xiaomi is applying for a Hong Kong stock listing with dual share classes that give certain shareholders much more power, which the new rules allow.

And the Royal Baby's Name Is …
Baby name betting - yes, that actually happens - had odds on either Albert , Arthur or James being the couple's pick. Hours later, she and Prince William publicly debuted their third child on the stairs of the Lindo Wing in London .


Oculus Go is shipping today
With over 1,000 apps, games and experiences available at launch, there will be plenty to play when your Oculus Go arrives. Battery life is set around 2 hours for playing games, and about 2.5 hours when you're streaming media and video content.


Samsung Galaxy S7 and S7 Edge Android Oreo updates starting in UK
For the Galaxy S7 , the software firmware version is G930FXXU2ERD5, and for the Edge model, the firmware version is G935FXXU2ERD5. As promised by the company, the Honor 7X Oreo update has started rolling out in the United States.


After inevitably hitting a stagnation point, the so-called "Apple of China" bounced back stronger than ever, surpassing Samsung in India's essential smartphone market while slowly expanding across Western Europe and ranking fourth overall among the world's top Q1 2018 vendors.

In January there are reports which have suggested that the Chinese smartphone maker Xiaomi is expected to go public sometime this year. That made Hong Kong less attractive to companies than places such as NY or Shanghai. That coincided with a resurgence in key markets including China and India. It also sells online content, entertainment and financial services.

Xiaomi was founded in 2010 by Chinese entrepreneur Lei Jun. There are two types of ordinary shares - Class A and Class B - and seven series of preferred shares - Series A through Series E2. Chinese phone shipments dropped 21 per cent last quarter from the year before, Canalys said.

Clifford Chance is acting for underwriters CLSA Capital Markets Ltd., Goldman Sachs and Morgan Stanley Asia Ltd. with a team led by partners Tim Wang in Beijing, Jean Thio in Singapore and Amy Lo and Fang Liu in Hong Kong.

Related News:



Most liked

World Press Freedom Day rally in Kathmandu
United Nations Secretary General, António Guterres, has urged world leaders to strengthen press freedom, and protect journalists. However, she struck a note of caution saying, "Freedom of the press, like any other freedom, is never completely secure".

Neighbor sought in murder of couple dead of drug overdose
Police are looking for Daniel Kenneth Mooney (right) in connection with their deaths. "This tragedy is unfathomable to all of us". A painter who was doing work on the couple's home discovered the bodies. "It was clear they were building a life for themselves".

Bill Clinton's impeachment lawyer to represent President Trump
Trump has repeatedly called the investigation a "witch hunt" and said there was no collusion. Trump has since appeared increasingly frustrated with the investigation.

ETA: Basque Separatist Group Disbands After Decades Of Conflict
A spokesman for the Basque regional government told the AP that it received ETA's letter "a few days earlier". The official, who wasn't authorized to be named in media reports, declined to elaborate.

Joe Ingles scores 27 as Jazz beat Rockets to even series
The rookie finished with 17 points on 5-of-21 shooting, marking the first time he failed to reach 20 points in this postseason. The Houston Rockets are averaging 110 points on 43.9 percent shooting and allowing 102.9 points on 47.4 percent shooting.

Ellen DeGeneres & Carson Daly Roast *NSYNC During Walk of Fame Ceremony
After the ceremony, group assignment personal stars, the band went on the show to the presenter. Bass, now 38, revealed in a 2006 People magazine cover story that he's gay.

PM Modi colluding with 'tainted party': CM Naidu
Speaking at the event, CM Naidu said that the TDP joined NDA not for political gain but for the sake of state interests. Narendra Modi promised to build a capital better than Delhi while standing here.

Passenger Sues Southwest, Claims PTSD After Blast on Flight
Passenger Jennifer Riordan was partially sucked out of the plane when debris moving at high speeds blew out the window. He also wanted to meet passengers who assisted other travelers.

Alli and Kane on target as Spurs bolster top four hopes
Fifth-placed Chelsea had whittled down a 10-point deficit to just two but Spurs took that back to five with three games remaining. The former Manchester United right-back declared that he sees Mauricio Pochettino as the ideal replacement for Jose Mourinho .

Israeli PM accuses Iran of breaking nuclear deal
He said a secret Iranian nuclear project codenamed "Amad" had been shelved in 2003, but he work in the field had continued. After Netanyahu spoke, Trump repeated his criticism of the deal, suggesting he backed the Israeli leader's remarks.

Cosby juror: Comedian's talk of quaaludes led to conviction
He explained that although there were inconsistencies in Constand's testimony , Dr. He added: "I never watched The Cosby Show or anything".

Rep. Blackburn: Trump Deserves Nobel Prize
And even President Moon says that and he's been great", Trump said. "Personally I think it will be a success, we will see". The Nobel Peace Prize is one of six awards given yearly by the Nobel Committee.

Upcoming Apple iPhone Could Be Missing Some Features
He and other analysts cut their iPhone sales estimates, and Apple shares where are down nearly 8 percent in the past two weeks. Apple's CFO previously said the company would provide an update on that money with this quarter's results.

Tristan Thompson Breaks Social Media Silence After Cheating Scandal
Judging from Kim's actions, she may very well believe that's best accomplished with her sister's BF on the sidelines. It was the first game since the cheating scandal broke.

3D Touch to Be Dropped From New iPhones
Even though the iPhone X starts at $999 and the iPhone 8 starts at $699, the iPhone X only costs around $115 more to produce. That made it hard to price the product much below $1,395, without slicing Apple's legendary profitability.