DCA Limited Hong Kong Asset Management Firm Looking Forward to Xiaomi Listing
The initial public offering could be the world's biggest tech float this year .
- (1888PressRelease) February 28, 2018 - Chinese Smartphone maker Xiaomi has picked Citic Securities, Goldman Sachs and Morgan Stanley as joint sponsors for its proposed IPO.
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 followed over-expansion and fierce competition from domestic rivals including Oppo and Vivo.
Several mega-funded Chinese tech unicorns, may be angling to go public later this year with huge, multibillion-dollar offerings, heightening investor interest in China's booming technology sector. Behind the scenes, New York and Hong Kong are competing for these listings. At stake could be deals worth well more than a quarter-trillion dollars.
Jillian Lee at DCA Limited agrees. "This year could be an even bigger year for China IPOs," she said, noting many will be mega offerings.
The Beijing-based company has appointed Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley to work on its share sale on the New York or Hong Kong stock exchange, according to a person with direct knowledge of the matter, who asked not to be named because the discussions are private.
Wildly profitable Smartphone maker Xiaomi Inc. has set its sights on an IPO in 2018, according to recent news. After beating its 2017 revenue target by as much as 18%, the company expects $2 billion in 2018 and has been hearing pitches from investment bankers about a public offering. According to anonymous sources cited by a $100 billion IPO valuation would be “reasonable” and a company spokeswoman confirmed the company’s 2017 revenue was surprise.
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam