Xiaomi priced $4.7 billion HK IPO at Bottom of Target Range

小米融资47亿美元 香港上市发行价为指导价区间低端
时间:2018-07-02 单词数:1970

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小米香港上市发行价为指导价区间低端_ 双语新闻

Chinese smartphone maker Xiaomi Corp. priced a $4.7 billion initial public offering(IPO)at the bottom of its target range, people familiar with the matter said, pulling off one of 2018’s largest IPOs despite investor skepticism about its growth prospects.


On Thursday, the eight-year-old company priced its offering at 17 Hong Kong dollars (US$2.17) per share, the people said, after last week setting a target range of Hong Kong $17 to Hong Kong $22. Xiaomi shares will begin trading in Hong Kong on July 9.


Beijing-based Xiaomi hoped to raise up to $6.1 billion from its IPO before trading started. The pricing gives the company a market valuation of around $54 billion. That is a sharp comedown from expectations earlier this year of a $100 billion valuation and is also less the $65 billion to $85 billion that several brokerage analysts had estimated Xiaomi to be worth.


The company encountered difficulties on the road to the IPO. Xiaomi’s offering kicked off at a tumultuous time for Chinese stocks, which have weakened due to concerns about China’s escalating trade conflict with the U.S.