Media: smartphone manufacturer Xiaomi will be largest in 2018 IPO in Hong Kong

Hong KONG /Hong KONG/ may 3rd. /TASS/. Chinese smartphone maker Xiaomi plans to raise $10 billion through an initial public offering (IPO) on the stock exchange of Hong Kong. This promises to be the largest listing in the world this year, said on Thursday the newspaper South China Morning Post, citing sources in banking circles.

The company filed the request after the exchange is simplified from April 30 the procedure of IPO, trying to attract a greater number of large innovative companies from around the world. According to the newspaper, Xiaomi’s market capitalization could reach $100 billion, which will bring its three largest Chinese high-tech giants, along with Tencent and Alibaba.

The company Xiaomi was founded in 2010 and is now the fourth largest smartphone manufacturer in the world, along with Samsung, Apple and Huawei.