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'Pitch' next Friday for IPO in 2018: Xiaomi to banks

Xiaomi has overtaken Apple Inc to become China's fourth-largest smartphone vendor by sales.

Reuters  |  Hong Kong 

Chinese smartphone maker Xiaomi Inc has asked banks to pitch next Friday for an initial public offering in 2018, people familiar with the plan told Reuters. Xiaomi was valued at $46 billion in a 2014 funding round completed before its sales stagnated. More recently it has seen expectations of its value pick up following strong results this year. Its float could be the world's "largest technology IPO" next year, according to one of the people. "It is huge," said another source, adding that a valuation of $100 billion would "not be a crazy ...

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First Published: Wed, December 06 2017. 12:27 IST