• SENSEX
    NIFTY 50
VIDEOS
Economy

Xiaomi makes a weak debut in Hong Kong

Updated : July 09, 2018 07:57 PM IST

Xiaomi Corp made a weak debut in Hong Kong on Monday, with the Chinese smartphone maker's shares sliding as much as 6% on valuation concerns, in an ominous sign for its technology sector peers lining up listings in the city.

A packed initial public offering (IPO) calendar in the coming months will include a $4 billion deal from online food delivery-to-ticketing services platform Meituan Dianping and an up to $10 billion IPO from China Tower, the world's largest mobile tower operator.

Xiaomi shares closed at HK$16.80, having touched a low of HK$16 in early trade, compared to the IPO price of HK$17 per share. The main Hong Kong stock market index ended 1.3% higher.

Xiaomi priced the IPO at the bottom of the range it offered, in a deal worth $4.72 billion - the world's biggest technology float in almost four years.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV