Chinese Xiaomi will conduct an IPO on the Hong Kong stock exchange this week

The initial placement of shares of the Chinese manufacturer of smartphones, Xiaomi, will be held this week on the Hong Kong Stock Exchange, sources familiar with the situation told Reuters. They note that the company's value has been reduced to 55 billion-70 billion dollars. The Wall Street Journal writes that Xiaomi postponed the IPO in mainland China in anticipation of a change in regulation, which was due to the disagreement between the company and regulators over the valuation of Chinese deposit receipts. After an IPO in Hong Kong, while which the company can raise up to $10 billion, Xiaomi will return to the issue of listing in Shanghai or Shenzhen, when the relevant rules are ready.

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