Xiaomi files for largest IPO since 2014 in Hong Kong
03 May, 2018, 20:23 | Author: Chad Warren
Xiaomi, one of the biggest makers of smartphones in the world, has filed to become a public company in Hong Kong in what should be a massive initial public offering.
In the case where the company manages to raise that much through the IPO, Xiaomi will attain a market value of between $80 billion and $100 billion as per reports.
Back in 2014, Chinese e-commerce firm Alibaba broke records when it went public on the NYSE, raising $25 billion in what is to date the largest global IPO ever.
Xiaomi has filed their IPO at the Hong Kong stock exchange (HKEX).
When it revealed detailed financial info for the first time in 2017, Xiaomiposted a net loss of $6.9 billion, despite revenues of $18bn. In December 2017, Xiaomi counted 170.8 million active users on its custom Android platform, MIUI, with each user paying an average of 57.90 yuan or about $9.10 for the company's internet services, totalling a $1.6 billion revenue for that month alone. However, the company's revenue reached 114.62 billion Yuan ($18 billion) in 2017, which is up by 67.5 per cent against 2016.
In the IPO filing, Xiaomi founder Lei Jun emphasized that Xiaomi is an internet company, not just a hardware maker. Selling phones with the latest processors and features at half the price of competing devices, it used buzzy flash sales to attract online customers mostly ignored by competitors.
It is not just investors and Xiaomi fans who are keeping a close eye on the Chinese smartphone maker's application for what may be the world's biggest IPO since 2014. Currently, Xiaomi is the fourth-biggest smartphone manufacturer in terms of the number of devices sold and has succeeded tremendously in the price/performance market. Xiaomi was the fastest growing brand in China during the quarter. This is a result of loosened rules for allowing companies with multiple classes of shares to raise equity. Each Class A share has 10 votes while each Class B share has one vote.
Xiaomi is also likely to be among the first Chinese tech firms seeking a secondary listing in China, using the planned depositary receipts route, two people with knowledge of the matter said.
He is a ideal compliment to new number one receiver Allen Robinson and should become an early contributor for the Chicago Bears . The question now is can it catch up in time for this current regime to get to celebrate it? He said it's completely healed.
There's also a 13-megapixel rear camera which also supports artificial intelligence technology for beautification effect. They are looking for an affordable price option without compromising on the built-quality and the device performance.
The Jets managed just two shots on the backup netminder over 18 minutes before he was pulled for an extra attacker. It's a shame this couldn't have been the Western Conference Finals since we have two great teams in action.
The 32-year-old told reporters: "It's a fact, we have a clear chance to break those records and we have to go for it". With 30 wins, they are level with Chelsea's number of victories in one campaign which they achieved last season.
The front will have a high-res 16MP selfie snapper complete with flash - something not often found on more affordable phones. Both cameras are accompanied by an LED flash unit for enhanced pictures and support Full HD video recording at 30 fps.
In any case, the draft was so deep in receivers that the Ravens still came away with a couple of talented prospects. Some analysts seem to believe Jackson is a one-read-then-run quarterback who can't manage a pocket under pressure .
The days of the comedian hosting the event going "table by table pointing at people and making fun of them" are over, she said. Fox News media analyst says the comedian's jokes were a huge embarrassment for the White House Correspondents' Association.
The Griffins decided not to return to the draft venue Saturday, instead waiting to hear the news at a nearby Arlington hotel. He gained attention at the NFL Combine in March when he ran the quickest 40-yard dash for a linebacker since 2003.
Tesla shares were down almost 5% during after-hours trading, despite posting better-than-expected earnings results. The leaked Elon Musk email also teased a second shutdown before the end of the second quarter.
He said: "We don't want things going backwards". "And for some of them, particularly their MPs, they may view that as a job done". A DUP councillor has questioned if councils were treated differently during the visit of Michel Barnier to Northern Ireland.
We'll see what happens and in my mind I'm just trying to get to that 30 mark. "It is a mix about different things". It wasn't a great period for him the last few weeks and, of course, he's only human and was a little bit affected.
With the Jets, Sam Darnold Can Create His Own Legacy
And with the addition of Darnold and the veteran presence of McCown, the Jets can surely afford to shed themselves of a him. On the NFL Network broadcast, draft analyst Mike Mayock described it as a favorable position for Darnold and the franchise.
Cowboys pick Connor Williams
STILL NEED: The Cowboys didn't draft a safety despite moving one of last season's starters, Byron Jones, back to cornerback. The interior of the defensive line is arguably the biggest need, depending on the view of life without Witten.
BP profits soar despite $1.6bn Deepwater Horizon payout
The oil giant said underlying replacement cost profits jumped by 71% to $2.6bn (£1.9bn) for the first three months of 2018. That compared with a profit of $1.5 billion a year earlier and $2.1 billion in the fourth quarter of 2017.
Inflation reaches key threshold for Fed rate hikes
The government reported last Friday that wages and salaries recorded their biggest increase in 11 years in the first quarter. Annual inflation readings in March of a year ago were held down by large declines in the price of cell phone service plans.
Real Madrid vs Bayern Munich
Lewandowski's record in Champions League semi-finals may well be frustrating overall, but he tends to get on the scoresheet. Last season, admittedly, was hard : Madrid had to beat Napoli, Bayern, Atletico and Juventus in the knockout stages.
Fiji claim Singapore Sevens title in late comeback
First up was Kenya who were felled quite clinically, 24-12, thanks to a hat-trick from the speedster Siviwe Soyizwapi. Two wins and a loss in Pool B saw Shujaa qualify for the Main Cup Quarter Finals in Singapore .