Xiaomi Planning an IPO at $50 Billion Valuation

Xiaomi (Private:XI) has asked banks to pitch next Friday for an initial public offering in 2018, sources told Reuters. According to the Bloomberg report, some executives have even been talking about raising $100 billion, a vast amount when you consider that the company was valued at $46 billion, the last time it raised funds. More recently it has seen expectations of its value pick up following strong results this year. He also added that in just one year Xiaomi India is ranked fourth in its offline presence, according to IDC.

"It is huge", said another source, adding that a valuation of $100 billion would "not be a insane number".

Huawei, Xiaomi, Oppo, and Vivo are the top four domestic smartphone makers in the third quarter in their home ground mainland China, and they started to get a grip of the Southeast Asian market in recent years. Also, Xiaomi pulled back from various overseas markets such as Brazil and Indonesia.

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With this expansive strategy, Xiaomi will re-launch sales in dozens of countries such as Indonesia, Vietnam, Russia, United Arab Emirates and Ukraine, and is about to overtake Samsung in China, fastest growing smartphone market in World, where it has already exceeded Apple.

The founder of Xiaomi, Lei Jun, had said that company would not go to stock market until 2025, but bull rally of stock exchange and its promising financial figures have been able to accelerate that plan.

Xiaomi was expected to choose either Hong Kong or the USA as its listing venue, according to the people, who declined to be named as the discussions were confidential.

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