Xiaomi Launches the World's Biggest IPO Since 2014 in Hong Kong
Published : Thursday, 03 May, 2018Xiaomi filed for an IPO recently and it is slated to be huge. Hong Kong has recently changed its IPO legislation, and now allows companies with different share classes to file. The thing to note here is that the company comes with great quality and professionalism. In addition, the IPO is valued at least at $10 billion, maybe even slightly higher. That can lead the business to being valued at around $100 billion, which is an extremely exciting thing to consider!
In a new move, the company also posted some of their current financials, which entail a net loss of $6.9 billion in 2017, down from a profit in the previous year. The revenue in 2017, however, increased to 114.5 billion yuan.
The Hong Kong Exchanges and Clearing LTD has a win here, having overcome the ban on weighted-voting rights. The fact that Xiaomi is launching an IPO signals a new phase - in contrast with Alibaba’s choice to list in New York, there are signs that the former British colony may be ambitious enough to compete with the U.S. market.