Xiaomi To Seek $50B Valuation In IPO
Beijing based Chinese smartphone maker company Xiaomi is in talks with investment banks about an initial public offering and is seeking a valuation of at least $50 billion, Bloomberg reported.
Once, the world's most valued startup is in the word is considering an offering in the starting of the year 2018 with most probably Hong Kong as its destination, quoted people who don't want to be named. While banks have talked up prospects of the Chinese smartphone manufacture, as they seek to win the mandate, they have concerns about whether Xiaomi can reach the $50 billion mark, much less a $100 billion target that some top executives have embraced, the people said.
Xiaomi had earlier raised money in 2014 at a valuation of about $46 billion.
Xiaomi, led by Lei Jun, has invested extensively in I...