Chinese smartphone maker Xiaomi goes public, looks to raise $10 billion

In the past few years, Chinese electronics giant Xiaomi has made its name selling phones that sharply undercut the likes of Samsung and Apple on price.

On Thursday, Xiaomi filed to list on Hong Kong’s stock exchange, in a much-talked about initial public offering (IPO).

According to the South China Morning Post, Xiaomi is looking to raise $10 billion in the largest IPO by a Chinese tech company in four years.

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. Read more…

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