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Smartphone maker Xiaomi's shares open 2.9 percent down on debut in Hong Kong

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Chinese smartphone maker Xiaomi Corp's shares dropped 2.9 percent on debut in Hong Kong on Monday, in a blow to investor sentiment for the tech sector as a raft of peers line up their own listings in the city.Xiaomi priced its Hong Kong initial public offering (IPO) at HK$17 per share, the bottom of an indicative range, raising $4.72 billion in the world's biggest technology float in four years.The shares touched a low of HK$16.50 in opening deals on Monday.Xiaomi's listing comes at a delicate time for Hong Kong's stock market, with the benchmark Hang Seng index falling ...

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First Published: Mon, July 09 2018. 08:39 IST