You are here: Home » Reuters » News
Business Standard

Smartphone maker Xiaomi's weak Hong Kong debut casts shadow on tech listings

Reuters  |  HONG KONG 

By Julie ZhuHONG KONG (Reuters) - Chinese smartphone maker Xiaomi Corp's shares fell as much as 6 percent on debut in Hong Kong due to valuation concerns, delivering a blow to investor sentiment in the tech sector where peers have lined up 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.Its shares touched a low of HK$16 in opening deals. By 0234 GMT, the stock was trading at HK$16.48, down 3 percent, while the main Hong Kong stock ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, July 09 2018. 09:03 IST
RECOMMENDED FOR YOU