-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Markets -> 
Billionaire trio grabs a slice of Xiaomi’s IPO
    2018-06-28  08:53    Shenzhen Daily

CHINA’S richest people are buying into Xiaomi Corp.’s imminent Hong Kong initial public offering (IPO).

Former CK Hutchison Holdings Ltd. chairman Li Ka-shing, known as “superman” in Hong Kong for his business acumen, plans to invest US$30 million for an unknown slice of the smartphone maker, according to sources familiar with the matter.

Alibaba founder Jack Ma and Tencent chairman Pony Ma — the country’s two richest persons — have also agreed to take stakes in Xiaomi, said the sources.

The billionaire triumvirate join a group of big corporate names backing an IPO that could raise as much as US$6.1 billion — the world’s biggest first-time share sale since Postal Savings Bank of China Co. raised US$7.6 billion in Hong Kong in 2016.

China Mobile Ltd., the nation’s biggest wireless carrier, and U.S. chipmaker Qualcomm Inc. are among those that have agreed to participate as cornerstone investors, according to terms for the deal.

Li’s participation could go down well with individual investors in Hong Kong, where the now-retired businessman enjoys near-celebrity status. He is investing through the Li Ka Shing Foundation, one of the sources said. Li’s deal was first reported by the Hong Kong Economic Journal.

For the Mas, it’s unclear which entity they would use to buy their stakes. Alibaba Group Holding Ltd. and CK Hutchison representatives had no immediate comment. Tencent Holdings Ltd. representative Jane Yip didn’t respond to requests for comment. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn