TRENDING ON ONEINDIA
- Chandrababu Naidu Meets Mamata Banerjee: Efforts For Anti-BJP Front
- Oppo India: Teases New Smartphone Range
- Jawa Vs Royal Enfield — A Brief Comparison
- Anushka Sharma: Unveils Her Madame Tussauds Wax Statue!
- Healthy Ways To Improve Your Daily Tea
- Latest Lowest Personal Loan Interest Rates
- Five Reasons To Visit Bum La Pass This Winter
- How Dovizioso won a red-flagged Race!
Xiaomi Corporation has finally announced the details of its global offering and its proposed listing on the Stock Exchange of Hong Kong Limited on Saturday.
A total of 2,179,585,000 shares are being offered under the Global Offering, comprising an international offering of 2,070,605,000 Offer Shares and a Hong Kong Public Offering of 108,980,000 Offer Shares (subject to reallocation) (the "Hong Kong Public Offering"), representing approximately 95 percent and 5 percent of the total number of the Offer Shares, respectively.
The offer price (the "Offer Price") is currently expected to be between HK$17 and HK$22 per Offer Share.
Lei Jun, executive director, Founder, Chairman and Chief Executive Officer of Xiaomi said: "Today we present ourselves to you as we prepare to enter a new stage in our journey. Within seven years of our founding, our annual revenue exceeded RMB100 billion, achieving a growth rate that many traditional companies are unable to match."
"With our unique ecosystem model, we have mobilized many like-minded entrepreneurs, and we are not only changing industries in China but also elsewhere in the world,"," Lei Jun, said.
"Fundamentally, the Internet is all about transparency, efficiency, and equality. We want to allow everyone to enjoy the benefits of technology. That is the goal that all Xiaomi employees and I are working tirelessly for."
Notably, Goldman Sachs, Morgan Stanley, and CLSA are joint sponsors, joint global coordinators, joint book runners and joint lead managers of the Global Offering.
Meanwhile, the company also revealed it intends to use the proceeds from this offering into research and development as well as core in-house products, including smartphones, smart TVs, laptops, AI speakers and smart routers.
Furthermore, Xioami said as the Company expands its business globally, it also has been able to achieve increased profitability with revenue growth.
In 2015, 2016 and 2017, 6.1 percent, 13.4 percent, and 28.0 percent, respectively of total revenues were derived from sales outside of mainland China.
It ranked number one in India in terms of smartphone unit shipments in the first quarter of 2018 and was also the top five in 15 markets, according to IDC.