Chinese smartphone maker Xiaomi looks to go public in what could be world's largest share offering in years



Associated Press

Chinese smartphone maker Xiaomi is planning to go public on Hong Kong's stock exchange in what could be the world's biggest share offering in years.

Shanghai, China - Feb 3, 2014: Man holding a Xiaomi smartphone. Xiaomi is a Chinese manufacturer of Android smartphones and is famous for its customized operating system.

Xiaomi smartphone (file picture).


The company filed documents with Hong Kong's stock exchange operator today as part of preparations for an initial public offering.

Beijing-based Xiaomi is the world's fourth biggest smartphone maker by shipment volume, according to IDC.

The listing documents provided no financial details about the share sale or the company's valuation. The newspaper South China Morning Post cited unnamed banking sources saying Xiaomi plans to raise up to $US10 billion, which would value the company at $US100 billion.

That would make it the biggest IPO since Chinese e-commerce giant Alibaba's $US21.8 billion IPO in 2014 on the New York Stock Exchange.

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