Xiaomi’s Historic Fundraising Achievement

In an impressive move, Xiaomi has successfully raised a staggering HKD 42.5 billion (approximately USD 5.5 billion) by selling 800 million shares as of March 27. This monumental fundraising positions Xiaomi as a key player in Hong Kong's financial landscape.

A Record-Breaking Event in the Hong Kong Market

This fundraising marks the third-largest in the vibrant Hong Kong market, following closely on the heels of BYD’s recent HKD 43.5 billion placement just weeks earlier, and Meituan’s extraordinary HKD 54.2 billion achievement in April 2021. The momentum of fundraising in Hong Kong is undeniably heating up!

Expert Legal Guidance for a Complex Process

To navigate this complex process, Xiaomi enlisted top-tier legal firms including Skadden, Jingtian & Gongcheng, Latham & Watkins, JunHe, and Zhonghao Law Firm. Skadden stood out as the international law counsel, with Paloma Wang, co-head of their China practice, leading the charge. Partners Wu Yuting and Brian Egan provided invaluable advice on US securities law and foreign investment regulations.

A Bright Future Ahead

With such a significant influx of capital, Xiaomi is poised to embark on new ventures and investments, further solidifying its position in the technology sector. This fundraising not only enhances its financial trajectory but also signifies a booming interest in Hong Kong's capital markets. As Xiaomi charts its next steps, the world will be watching closely to see how this powerhouse leverages its newfound resources.