Comment on Xiaomi is picking banks for an IPO worth up to $100 billion

Xiaomi is picking banks for an IPO worth up to $100 billion

Etienne Oliveau/Getty Chinese phone maker Xiaomi has begun picking banks to underwrite its public offering, which might value the firm at up to $100 billion, according to Bloomberg. The firm may go public in the second half of this year. Xiaomi was once the biggest smartphone maker in China, earning it plaudits as "the Apple of China." The firm has sunk to fourth place in China behind Huawei, Oppo, and Vivo, but has made strong progress in India where it's one of the top three manufacturers. Xiaomi, one of the biggest smartphone brands in China, is picking banks ahead of an IPO at a possible valuation of $100 billion (£72.3 billion). According to Bloomberg, Morgan Stanley, Goldman Sachs, Credit Suisse, and Deutsche Bank are all working on the flotation, though Xiaomi may still pick additional Chinese underwriters.

 

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