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Xiaomi to Go Public Next Month with $65-$70 billion Valuation



In the last few quarters, we have seen many successful IPO from Chinese tech companies. While Xiaomi is said to go public by the end of this year, the latest report from Hong Kong Economic Times confirmed it to happen as early as next month. Back in January 2018, the company also hosted an IPO kick-off meeting in China. Based on the leaks, the company will be choosing Hong Kong for its IPO.

While the earlier reports suggested the company is aiming for $100 billion valuation, it might actually valued at $65-$70 billion. If this comes out true, then Xiaomi’s IPO will be the second largest in the Chinese tech sector, next to Alibaba. Once it is listed in Hong Kong, Xiaomi might also consider China Depositary Security (CDR) for trading on Chinese exchanges. During its IPO in 2014, Alibaba was valued at a whopping $231 billion.

Xiaomi’s subsidiary Huami which sells wearables under the brand name Amazfit went public earlier this year. It is listed on New York Stock Exchange and raised $110 million. Xiaomi and its CEO Lei Jun have 19.3% and 20.4% stake in Huami respectively. Recently, the news broke out that Xiaomi is interested in buying U.S-based GoPro. If the deal goes through, Xiaomi might buy GoPro for around $1 billion.

Xiaomi is currently the 5th largest smartphone brand in the world. While the company is doing a great job with the low-cost smartphones, it hasn’t been that great in the premium segment. In just four years, the company had reached the top position in India, the world’s second largest smartphone market. After Asia and Africa, Xiaomi is also rapidly expanding its presence in the Europran markets. Stay tuned on Phone Radar for more details!



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