Xiaomi is reportedly filing for an initial public offering (IPO) in Hong Kong which could see the company valued between $65 billion and $100 billion. The news arrives via TechNode and Bloomberg, both of which suggest the company may submit the application as early as next month.
Rumors began circulating that the company might go public in 2018 last December. Bloomberg reported that the “Chinese Apple” was in talks with investment banks regarding a $50 billion IPO valuation.
Xiaomi stands to achieve the biggest IPO debut since Alibaba Group Holding Ltd.’s ~$25 billion opening in 2014.
Xiaomi hasn’t officially commented on the recent speculation, though its CEO and co-founder Lei Jun has spoken on the topic before. In 2016, Lei said that when he founded the company in 2010, he didn’t expect it to go public before 2025.
In the past four weeks, Xiaomi has dived into the gaming market with its first gaming smartphone and laptop, been linked to a potential GoPro buyout, and has announced the construction of three new production facilities in India to keep up with smartphone sales demand. It’s a surprise it has any time left to worry about IPOs, eh.
April 16, 2018 at 12:26PM