Cornerstone investors for Xiaomi's $6.1bn IPO to include Qualcomm

Ahead of the tech unicorn’s much-anticipated debut on the Hong Kong stock exchange, it has been announced that Xiaomi has lined up seven cornerstone investors for its IPO.

Among these is American chip maker Qualcomm. Other investors have been confirmed as SF Express (a Chinese delivery company), China Mobile and the state-run China Merchants Group, according to CNBC.

These cornerstone investors will make up a total of 10% of the shares being offered in the IPO which is set to be worth up to $6.1bn.

See also:

Xiaomi files for IPO set to value company at $100bn

Baidu, Xiaomi prepare to list in China following CDR ruling

Singapore IPOs up by 78% in first half of 2018

Xiaomi will sell around 2.18bn shares in the IPO worth between $2.17 and $2.80 each. 65% of the shares offered will be primary shares.

Shares being sold in the IPO include those currently owned by Morningside, a Chinese venture capital firm which invested in the company at an early stage, as well as Xiaomi’s managers.

The IPO is to be sponsored by CLSA, Goldman Sachs and Morgan Stanley.



Featured Articles

How India is bucking the global dealmaking downturn

M&A deal volume and value reach record highs in India in 2022, despite slower dealmaking globally – as scope activity and acquisitions in renewables surge

Create C-suite space for the Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 AI predictions for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

Welcome to the new breed of private members' clubs

Leadership & Strategy

Welcome to the New Age of the CISO

Leadership & Strategy

Making the UAE the world’s strongest digital fortress