The smartphone manufacturer will be the first major company to go public in that country since rule changes allow for the listing of different share classes on the Hong Kong Exchange.
While the application omitted financial terms, bankers familiar with the plan said the Beijing-based company is seeking to raise US$10 billion, in a sale that values the eight-year-old firm at US$100 billion. Revenue, though, soared 67.5% to 114.5 billion yuan ($18 billion USD) a year ago. It also said it made a net loss of 43.89 billion yuan versus a profit of 491.6 million yuan in 2016. The wide spectrum of products includes air purifiers, rice cooker, wearables, electric scooter, Mi TV, Mi Drone and etc. Xiaomi said it registered a revenue of 23.5 billion yuan past year from its ecosystem.
Xiaomi doubled its shipments in 2017 to become the world's fourth-largest smartphone maker, according to Counterpoint Research, defying a global slowdown in smartphone sales. By the end of a year ago, Xiaomi had topped Samsung Electronics Co.to lead sales charts in India. Xiaomi has portrayed a consolidated image in the emerging markets and now it is looking forward to entering developed markets for smartphones.
If confirmed, a share offering in the former British colony would be a coup for Hong Kong, which was said to be vying with NY and Shanghai for Xiaomi's listing.
Xiaomi's main business is phones, but it also makes a range of other internet-connected devices, including laptops and even smart rice cookers. Those targets, if achieved, will make it the biggest Chinese tech IPO since Chinese internet giant Alibaba Group Holding Ltd raised United States dollars 21.8 billion in 2014.
To compete with regional bourses, Hong Kong pushed through rules to let pre-revenue biotechnology firms and technology firms with multiple classes of stocks sell equity.
The company has apparently invested heavily in the past year leading up to the IPO.
Xiaomi's 2017 sales jumped by two-thirds to 114.6 billion yuan, with overseas revenue more than tripling to 32.1 billion yuan, its filings show.
The company said it would have a "weighted voting rights structure", where class A share holders exercise 10 votes while holders of class B shares exercise one vote.
The exchange is eyeing several tech listings that are expected in the coming two years from Chinese firms with a combined market cap of $500 billion.
Asian shares slipped as hopes waned for real progress in Sino-U.S. trade talks, which are due to kick off on Thursday. The U.S. dollar bought 109.68 Japanese yen, lower than 109.80 Japanese yen of the previous session.
He said it's important for people and policymakers to know the possible implications of lifestyle changes on life expectancy. Only eight percent of Americans are now following the healthy habits underlined in the study, research co-author Dr.
He added, "I couldn't believe anybody was making a big deal out of a drug to grow his hair that seemed to be so important". As in his previous accounts, Bornstein said he was rushed when the auto arrived, so he wrote up the report quickly.
Mr Manafort also reportedly offered to give a government-connected Russian billionaire a briefing about the campaign in July 2016. And he reportedly wants to ask Trump about what he knew about Russia's campaign to infiltrate the USA election via social media.
The New York Giants just finished off season voluntary workouts, but one former first round draft pick was not in attendance. Flowers is expected to compete for the starting right tackle position along with 2017 undrafted free agent Chad Wheeler .
Critic and audience favorite " Harry Potter and the Cursed Child " has garnered 10, along with the revival of " My Fair Lady ". GREEN I think we are approaching a moment when puppetry, magic and special animal effects will have to get a category.
Here's the new trailer for Ant-Man and the Wasp , which could very well be the most fun Marvel movie to date. Nonetheless, Marvel has now released a video with some other Avengers asking the same question.
Rudolph could be a possible replacement for Ben Roethlisberger , the Steelers' two-time Super Bowl champion gunslinger. In addition to adding Washington to the receiving corps, Pittsburgh also has a rising star in JuJu Smith-Schuster.
When you employ the strategy landing further away from the center of the map, you have to be prepared to move. Fortnite also used their Twitter profile to give additional clues to the players regarding the new season.
4 police officers injured in house explosion
Authorities are investigating a possible explosion in North Haven , Connecticut, according to a law enforcement official. He remarked: " This started late this afternoon with what was apparently a very violent domestic call ".
Expect a more juiced up Utah Jazz team for Game 2
With the loss, Houston gives away homecourt advantage to Utah , as games three and four take place at Vivint Smart Home Arena. Another awesome dunk came toward the end of the game when Dante Exum slammed this home. "We made some mistakes".
Press Freedom Day being observed today
However, she struck a note of caution saying, " Freedom of the press , like any other freedom, is never completely secure". The placards read, "Demanding free press is your right", left, and "The media are your voice.
Download the Windows 10 April Update ISO files
Windows Update ensures that your PC passes all of Microsoft's checks and won't run into any problems once the update is installed. Timeline is all about saving time and finding stuff faster by simply remembering the time frame when you were working on it.
At least one killed in São Paulo tower block collapse
Fair-housing activists, on the other hand, argue that the area could offer affordable housing to tens of thousands of people. Firefighter Andre Elias told Globo TV that they expected to find more victims but did not know how many.
Karnataka poll: Is the BJP-JD(S) have a pact?
He also referred to his background and said Congress is jealous as a person from humble background became the Prime Minister. For all political analyst and Leaders, it is quite simple to understand, and for non-political people, it is too simple.
Push to curb opioid crisis during Drug Take Back Day
Nearly every local police department now has a prescription drop off box in their lobby and it is typically available 24/7. According to the 2015 National Survey on Drug Use and Health, 6.4 million Americans abused controlled prescription drugs.
Tottenham vs Watford latest score
It was important to get the three points as it allows us to be in a good position. Of his own form, Kane added: "I feel good". "I try to improve every year".