Xiaomi Corp. has provided details on its upcoming blockbuster IPO in Hong Kong, telling potential investors that it hopes to raise $6.1 billion from the flotation, according to sources talking to Reuters.
The company looks to sell around 2.18 billion shares, about 65% of which as primary shares during the listing, at a price of between HK$17 and HK$22 ($2.17 to $2.80), the sources said.
Qualcomm and China Mobile are among the telecoms companies pinned as cornerstone investors for the IPO, with firms from other industries such as China Merchants Bank and delivery company SF Holding also among them. This group of eight investors will buy from 13 to 15% of the shares during the listing, however the final list may undergo change over the weekend.