Xiaomi plans IPO in Hong Kong by 2018

Xiaomi Inc. aims IPO in a US$50 billion valuation by 2018. The electronics maker campany based in Beijing chose to register in Hong Kong which is expected to generate at least US$5 billion from the initial public offering to use for business expansion.

The makers of mobile phones, smartphones, tablet computers, smart home devices and laptops established in 2010 are planning to roll out an IPO at a minimum valuation of US$50 billion. The plan will be finalized in 2018 allowing Xiaomi to at least collect US$5 billion.

Xiaomi last raised funds in 2014 at a valuation of US$46 billion. The company is aggressively expanding its global market share to India in 2016 and September 2017 founder and CEO, Lei Jun, announced to establish a fixed business entity in Indonesia.

Xiaomi has been producing low-cost mobile phones, consumer electronics, mobile applications and handsets to target lower-middle-market and offering Internet-added value products including TVs, backpacks, phone screen protectors and earphones.