Xiaomi Corp has plans underway to raise about $6.1 billion in what is deemed the biggest global stock market debuts. It is around the same time that the business guru is also doing all within its means to rise and become a global brand alongside Samsung and Apple and that is along a business model combining Amazon and Alphabet.
Current state of affairs
A person well conversant with the matter has said that theinitial public offering in Hong Kong would be valuing the Xiaomi Corp at about $70.3 billion. There are reports that the Beijing-based company won’t be in a position to raise the expected amount of about $10 billion, which would have resulted in the company being valued at $100 billion.
But even with that said, it will still be featuring among the largesttech IPOs.
Alibaba, a Chinese e-commerce giant, managed to raise almost $21.8 billion way back in 2014 according to its insiders. If all moves according to plan, it is expected that the shares of the company will on July start trading on the stock exchange in Hong Kong and that will be under the ticker 1810.HK. At this point it is also crucial to mention the 2.2 billion shares public offering for the various institutional investors.
Steps made by Xiaomi Corp so far
The 8-year-old company has diversified its business operations a great deal and the move to manufacture TVs, the robot vacuum cleaners and air purifiers has been praised by experts around the world. It is a great thing that it has managed to find a place among the Chinese unicorns and from the latest survey it was valued at about $1 billion.
A lot of people haven’t yet come to terms with the reality that it has already unseated Samsung Electronics in the massive smartphone market of India. In China, it unseated Apple.
Xiaomi Corp is definitely one of the few companies in China that have made a major headway in the global markets such as India and has also managed to attract a huge fanbase in a place such as South Korea.
The Chinese company in a recent report outlined that it was going to step up its game in the international markets as it also focuses on the development of a new business model that will function in the global markets. It is looking forward to being successful with that.