Xiaomi’s blockbuster IPO nine times overbought
30 June, 2018
Chinese tech unicorn Xiaomi has completed its four-day Initial Public Offering period, as investors overbought the retail portion of its US$6.1 billion offer, The Paper reported.
By the end of Thursday noon, more than 100,000 investors have subscribed to over 1.03 billion Xiaomi shares, with the retail subscription overbought by 9.5 times.
It is reported that at present, Hong Kong tycoon Li Ka-shing, Alibaba founder Jack Ma and Tencent CEO Pony Ma have all subscribed to Xiaomi’s shares in their personal names, and the amount ranges from tens of millions to hundreds of millions of dollars. However, these reports have not been confirmed.
According to the prospectus, the issue price range is between HK$17 to 22 dollars. The stock is expected to be priced on Friday and listed on July 9.