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Xiaomi plans $5.27b share placement
Xiaomi Corp, based in China, plans to raise up to US$5.27 billion through a share placement of 750 million Class B shares.
The shares are priced between HK$52.80 (US$6.79) and HK$54.60 (US$7.03) each, reflecting a discount of 4.2% to 7.4% from the company’s closing price of HK$57 (US$7.34) on Mar. 24.
The proceeds from this placement will be used for business expansion, investment in research and technology, and general corporate purposes.
Xiaomi has not yet commented on this development.
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