Xiaomi ushers in new era as HK embraces dual-class

xiaomi mi 6 230px
By John Loh
03 May 2018

Xiaomi Corp set its $10bn IPO in motion this week with an initial filing to the Hong Kong Stock Exchange. The move is a big win for the city, as the Chinese smartphone maker will be the first high-profile issuer to make use of Hong Kong’s new listing rules that allow founders to control a company with weighted voting rights (WVR). John Loh reports.

The preliminary IPO filing means Xiaomi will not be hitting screens for a few months yet, but market participants are already salivating at what is poised to be the biggest listing since Alibaba Group Holdings’ $25bn New York debut in 2014.

CLSA, Goldman Sachs and Morgan Stanley, Xiaomi’s ...

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