Xiaomi Listing Is a Huge Success in Volatile Capital Market, Lei Jun Says
Liao Shumin
/SOURCE : Yicai
Xiaomi Listing Is a Huge Success in Volatile Capital Market, Lei Jun Says
(Yicai Global) July 9 -- Xiaomi poed to officially lt on the Hong Kong Stock Exchange today. A successful lting will be a great success amid the capital market's recent ups and downs, the firm's founder and chairman Lei Jun said in an open letter he sued to all employees yesterday.Xiaomi has fixed an sue price of HKD17 (USD2.15) with a corporate valuation of USD54.3 billion, which the lower limit of its roadshow and book-building. It still amongst the top three initial public offerings of global technology stocks in htory, as well as the first innovative pilot for 'weighted voting rights' in Hong Kong's capital market, Lei stressed.

Magnates of the ilk of Li Ka-shing, Jack Ma, and Pony Ma have all subscribed for Xiaomi's stocks. "Th indicates their great trust in our management and workforce. Our earliest VC -- the first USD5 million investment, reaping 866-fold returns today," Lei said in the letter.

A review of the past eight years of entrepreneurial progress shows the following highlights: China's knockoff cellphones have been eliminated, with Xiaomi's participation and promotion, and Chinese smartphones have become ever cheaper and taking the world by storm, while Xiaomi has become the world's fourth-largest smartphone maker, Lei said.

Th just the beginning, however, he noted. "Getting lted has never been our goal. We strive for a higher aim than just the lting plan. We are initiating the IPO for a better future," Lei said.

Editor: Ben Armour

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Keywords: Xiaomi , IPO , LEI JUN