Xiaomi Corp, a Chinese company brand that makes smartphones and electric vehicles (EVs), is raising $5.27 billion by selling shares on Monday.
The shares will be priced between HK$52.80 and HK$54.60. This price is about 4.2 percent to 7.4 percent lower than the company’s closing price of HK$57 on Monday.
Xiaomi plans to sell 750 million Class B shares. The money will help the company grow, invest in research and technology, and meet other company needs.
Xiaomi did not provide any comments on this matter.
Earlier this month, EV maker BYD raised $5.59 billion in Hong Kong, making it the largest share sale in four years.
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Last week, Xiaomi reported nearly a 50 percent increase in its fourth-quarter revenue and raised its electric vehicle delivery target for this year from 300,000 to 350,000.
The company also plans to expand its store network in China and open 10,000 new Mi Home stores abroad over the next five years.
Xiaomi’s share sale is part of a trend of Chinese companies taking part in stock sales in early 2025. In the first quarter, these companies raised $16.8 billion, more than double last year’s amount.
Easing regulations on technology companies in China and the rise of new AI software developers like DeepSeek have encouraged global investors to buy Chinese stocks again.
Goldman Sachs, CICC, and JPMorgan are handling Xiaomi’s share sale.