Xiaomi covers book for $6.1bn IPO

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By Jonathan Breen
22 Jun 2018

Xiaomi has covered its whopping HK$48bn ($6.1bn) listing thanks to a strong flow of early orders, according to a book message sent out on Friday morning, a day after bookbuilding kicked off.

The float, equal to 8.69% of Xiaomi’s enlarged share capital, comprises 2.18bn shares, 65.3% of which are primary. The stock is on offer at HK$17-HK$22 apiece, making the IPO worth HK$37.1bn-HK$48bn. This is excluding a greenshoe of 326.9m shares, comprising 62% new and 38% existing stock.

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