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Xiaomi lists on HK stock market for USD 10 billion

ANI | Updated: May 03, 2018 16:38 IST

Hong Kong [China], May 3 (ANI): Chinese smart phone giant, Xiaomi, has filed to list on Hong Kong stock market which is expected to help the company raise up to USD 10 billion.

It will be world's biggest debut in 2018 and the largest after another Chinese tech giant Alibaba's 2014 listing which helped it raise USD 25 billion, the BBC reported.

It is estimated that the IPO would bring Xiaomi's valuation slightly short of USD 100 billion.

Xiaomi is one of the fastest growing tech companies and boasts India as one of its key markets. With China and India as its successful markets, Xiaomi is reportedly looking at expanding to other markets including the US, where Apple is the dominating brand. (ANI)