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  HOME | Business & Economy (Click here for more)

Xiaomi Mulls Dual Listing in Hong Kong, China Stock Markets

BEIJING – Chinese tech giant Xiaomi is mulling a double public listing in the stock exchanges of Hong Kong and mainland China after Chinese authorities advised them to go public within the country, and not abroad, sources close to the company said on Thursday.

However, the sources, quoted in a report by Dow Jones, say that the company’s plans to make an Initial Public Offering in both Hong Kong and any of the two Chinese exchanges – Shanghai or Shenzhen – could change any time.

Xiaomi is expected to attract around $10 billion in the listing, set to take place during the second half of the year in what could be the biggest IPO of 2018.

Experts have estimated that the electronics and software manufacturer might reach a total valuation of $80 billion – $100 billion following the listing.

The company refused to comment on the listing and the China Securities Regulatory Commission did not respond to requests for a statement, the Dow Jones report said.

A dual listing of Xiaomi would be a boost for Chinese regulators, who are trying to make Chinese companies participate in national markets, after an increasing number of companies – such as Alibaba, Tencent and Baidu – have chosen to list in the United States.

Chinese companies listed in the US are not allowed to trade stocks in the Chinese mainland, which is why China prefers that Xiaomi lists in Hong Kong or other Chinese exchanges.

 

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