Xiaomi, the Chinese company famous all over the world for the production of smartphones and everything related to technology, decides to change its plans below the economic level.
The oriental company has decided to postpone theIpo in China mainland and to go ahead first with the listing a Hong Kong, where it decided to reduce the target to $ 6,1 billion, according to Reuters.
The vendor had set the listing on the two Chinese lists in March with a minimum target of 10 billion dollars from the sale of the shares which would have brought the valuation up to 100 billion dollars; now, logically, the company's valuation has dropped and it has stopped between i 55 and 70 billion also due to recent pre-IPO analysis carried out by the sponsor banks where the value of Xiaomi is indicated between 65 and 86 billions of dollars.
Xiaomi is ready to land in the Honk Kong bag solving all the problems that block the road!
This sharp decline in the various estimates it is caused by the postponement of the listing in the mainland China which came from a disagreement with the Chinese regulators of China depositary receipts (Cdr) on the valuation.
This misunderstanding between Chinese society and China is causing a very difficult situation for the eastern nation to bring technological companies back to the lists of inhabitants. Xiaomi has already warned that he asked the government to request a postponement for the sale of Cdr.
These are the official words of the vendor:
"After careful analysis, the company decided to proceed with the IPOs in Hong Kong and in the mainland China in a timely manner", "we will first be quoted in Hong Kong and then in mainland through the instrument of the Cdr".
The historic entrance into MY BAG di Xiaomi is set for Thursday: the Chinese company intends to sell 2,18 billion shares, expecting to attract eight key investors to itself, including the American processor manufacturer Qualcomm, the eastern logistics company SF Holding and the state group China Merchants Group.
