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China's Xiaomi raises $4.72 billion after pricing Hong Kong IPO at bottom of range

Updated : June 29, 2018 04:26 PM IST

That values the firm at about $54 billion, almost half the valuation industry insiders touted at the beginning of the year.
The pricing comes at a delicate time for Hong Kong's stock market, with the benchmark Hang Seng index falling 6.5 percent this month and 4.8 percent this year as investors fret over escalating trade tension between the United States and China.
China's Xiaomi raises $4.72 billion after pricing Hong Kong IPO at bottom of range
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