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Wall Street Journal: Xiaomi's IPO target valuation is between RMB 454.5 billion and RMB 508.2 billion

via:CnBeta     time:2018/5/8 17:31:50     readed:503

Xiaomi is one of the first batch of Chinese technology start-up companies preparing for a large-scale IPO this year. It may be several other upcoming Chinese companies (such as group purchases).websiteThe United States Mission, Dripping Trips and AI-based news headlines, etc.) Establish standards.

Xiaomi has not disclosed details of the size of the listing or the expected valuation of the company. However, informed sources revealed that Xiaomi's current valuation range may be lower than the previously announced 100 billion US dollars (about 636.7 billion yuan).

According to informed sources, the company plans to raise at least US$10 billion (about 63.6 billion yuan) in funds through the IPO.

Xiaomi's joint sponsors for this IPO include: CITIC Lyon Securities, Goldman Sachs, and Morgan Stanley. The company’s application for listing in Hong Kong is a natural choice because Hong Kong’s understanding of its products and Chinese technology is deeper than in New York.

Xiaomi’s venture capital investors include Qiming Venture Capital, Morningside Ventures and IDG Capital. Its early investors will undoubtedly make it worthwhile in this large IPO.

The company has become one of the world's leading unicorn companies. The smartphone maker raised up to $1.58 billion (approximately $10.1 billion) in 9 rounds of financing.

With the slowdown of the Chinese smart phone market, Xiaomi has been seeking to expand into the European market to help it continue to achieve rapid growth.

Shortly after Xiaomi officially submitted an IPO application to the Hong Kong Stock Exchange, Xiaomi announced that it officially entered the European smartphone market, such as the United Kingdom.

Xiaomi has cooperated with Hong Kong’s Cheung Kong Holdings Limited, which is owned by Li Ka-shing, and sells smartphones in Europe through the “3 Group” (3 Group) and the “Three UK” (UK).

Last year, Xiaomi announced his entry into the Spanish market. This was the first time that the company entered the Western European market, and hinted that it would enter more countries.

"The Wall Street Journal" previously reported that Xiaomi also hopes to enter the US market by the end of 2018 or early 2019.

Over the years, Xiaomi has been focusing on the Asian market, but its efforts are undoubtedly rewarding: it has always been one of the world's top smartphone manufacturers.

According to a report from market research firm Counterpoint Research, Xiaomi has become a leader in the smart phone market in India. In the first quarter of 2018, Xiaomi’s share in India’s smartphone market was 31.1%.

Xiaomi has defeated the world’s smart phone giant Samsung for two consecutive quarters, and the latter’s market share in the first quarter of 2018 was 26.2%. In the fourth quarter of 2017, Xiaomi’s share in the smart phone market in India was 25% and Samsung was 23%.

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