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Xiaomi mandates Citic Securities, Morgan Stanley, Goldman for $100-bn IPO

Bankers expect Xiaomi's profits to rise sharply in 2018 as its rebound continues

Reuters  |  Hong Kong 

Chinese smartphone maker Xiaomi has picked Citic Securities, Goldman Sachs and Morgan Stanley as joint sponsors for its proposed IPO, IFR reported. The initial public offering could be the world's biggest tech float this year - valuing the company at up to $100 billion - and is expected to come in the second half of the year, the Thomson Reuters publication reported. A spokesman for Xiaomi declined to comment. The smartphone maker last month told bankers that it would beat its 2017 sales targets by up to 18 percent as it continues to benefit from a business overhaul that ...

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First Published: Mon, January 15 2018. 16:30 IST