In recent days, Xiaomi has been trying to get listed on Hong Kong’s Stock Exchange and at the same time, the company is also striving to listed on CDR in mainland China. However, the company recently announced that it will pull through with the Hong Kong listing before it proceeds with CDR process due to some “uncertain factors”. Now, fresh reports suggest that Xiaomi will hold a press conference for a global sale on Saturday and will start offering shares on June 25, the same day that the company will launch its upcoming Redmi 6 Pro.
Gizchina News of the week
Initially, its valuation was pegged at $100 billion, at least, that was the target of the company but this value has gradually reduced to $70 billion and even further down to $55 billion. This implies that Xiaomi’s target dropped by almost 45%. According to Sina Technology Report, Qualcomm, China Merchants, SF Express has signed the list of Xiaomi’s IPO cornerstone investors and it is reported that Qualcomm subscribed about $100 million.
