giftedviz.com
giftedviz.com July 22, 2018


Poor start for Xiaomi - IPO draws bids at discount in grey market

11 July 2018, 12:43 | Megan Pierce

Phone maker Xiaomi falls then rises in Hong Kong debut

Chinese Smartphone Maker Xiaomi Falls in Hong Kong Trading Debut

Xiaomi opened at HK$16.60, 2.4% lower than its IPO price of HK$17.

Enthusiasm for Xiaomi may have waned because investors are holding out for other big Chinese tech IPOs on the horizon, Hong said.

Shares in Xiaomi, the Chinese mobile phone maker, slid nearly 6% at the start of trading in Hong Kong.

Founded in 2010 by entrepreneur Lei Jun (雷軍), Xiaomi has grown from a start-up in Zhongguancun - China's "Silicon Valley" - to become the world's fourth-biggest smartphone vendor at the end of a year ago, International Data Corp said.

Still, the eight-year-old company, which has ambitions to transform itself from a low-priced maker of phones to a global rival to match Apple, managed to raise $4.72bn, making it the world's biggest technology float in four years.

Stocks in Hong Kong and Shanghai have taken heavy hits. It later expanded into computers, TVs and home appliances.

Investigators probe scene of Wonderboom plane crash for clues
The plane had been due to fly later this week to Aviodrome via east Africa, through Egypt, Croatia, Austria to the Netherlands. The plane had the words "Martin's Air Charter" painted on it, which was a previous name of Dutch cargo airline Martinair.


Wimbledon 2018: Serena Williams breezes past Evgeniya Rodina and into quarter-finals
Of ther other quarter-finalists, only Kerber and former French Open champion Jelena Ostapenko have won Grand Slams . Rodina called Williams her idol and one look at Williams' performance it was clear to see why.


Eden Hazard still open to Real Madrid move
I'm leaving, but this shirt, this crest, and the Santiago Bernabeu will continue to feels these things wherever I am. He won the illustrious UEFA Champions League trophy with Manchester United and with Real Madrid .


The analysts had earlier cited a range of factors for the relatively weak pricing, such as the Chinese CDR delay and recent negative investor sentiment toward global equities, including recent stock market downturns in China and Hong Kong, amid trade war fears between the United States and China. "If you don't like the price, you can stay away". Instead, the current valuation of $46 billion essentially means the company's value remains unchanged from its last fundraising round in 2014.

On Monday, the Xiaomi President and co-founder, Lin Bin, told to CNBC that, "I think short-term stock price is mostly dictated by market conditions".

"We are an internet company and from Day 1 we have set up a weighted voting rights structure with dual-class shares", he added.

Xiaomi's founder Lei Jun described his company's business model as a "triathlon model" with three components; third-party hardware sales, smartphone sales, and "internet service" sales which include media and ads.

Xiaomi's IPO had been expected to raise up to $10 billion, split between a Hong Kong and a mainland offering, which was postponed last month in a surprise move. The company is also making waves in Europe, where after less than two years in the market, it has become the fourth biggest smartphone seller.



Other News

Trending Now

England fans confident it's coming home ahead of World Cup semi-final
To top it off, the most important games are yet to be played. "I'm not going to be too humble, either", he said . They have a good squad depth and know what they need to do in order to win a game.

Henderson hopeful on fitness for World Cup semi-final
England too left Italy 28 years ago feeling that the team featuring Gary Lineker and Paul Gascoigne could have gone all the way. As we regroup, he turns to me and says, "right that's enough, time to lift the tempo, let's get about them".

Dangerous Thai Cave Rescue Resumes: More Already Saved On Monday
The boys, ages 11-16, and their 25-year-old coach became stranded when they went exploring inside after a practice game. Prime Minister Prayuth Chan-ocha was visiting all eight in the nearby hospital that they were helicoptered to, he said.

George Clooney 'Fine' After His Motorbike Crashed With Mercedes in Sardinia
Daily newspaper La Nuova Sardegna said the 57-year-old Clooney was heading to a film set a auto hit his motorbike. The two were married in 2014 at the Aman Canal Grande resort in Venice, Italy.

United Kingdom in turmoil, says Trump, won't back May
Trump has, meanwhile, delivered on US commitments to Europe. "Charge us big Tariffs (& Barriers)!" he wrote on Twitter . Trump while the president was en route to Brussels . "And dear Europe, spend more on your defense", he said .

Trump nominates Brett Kavanaugh to Supreme Court
Relishing the suspense, Trump insisted he still hadn't locked down his decision, which he wants to keep under wraps until a 9 p.m. Ahead of the announcement, three names surfaced as the contenders - Amy Coney Barrett , Kavanaugh and Raymond Kethledge .

Associate McCain pointed out Trump how to negotiate with Putin
This disdain for US allies is essentially the beating heart of much of Trump's foreign policy, it seems. Much of the rest of Trump's foreign policy is equally freakish .

UK woman dies after being exposed to nerve agent novichok
Russian state television reports on July 9 nonetheless continued to cast doubt on the British investigations into the poisonings. They are not showing any signs of having been exposed to the nerve agent, and are being screened as a precaution.

Truck driver charged in Canada hockey team crash with 16 dead
The tractor trailer he was driving crashed into a bus carrying members of the Humboldt Broncos junior hockey team, aged 16 to 21. Saskatchewan RCMP has announced that an arrest has been made in connection to the Humboldt bus crash, that killed 16 people .

England vs India 2018, ODI Series - Statistical Preview
That wicket and the consequent quiet, with Pandya promoted ahead of MS Dhoni and Suresh Raina, left India 44 to get in four overs. Considering the start England had, with Jos Buttler and Jason Roy racing to 94/0 inside eight overs, the pressure was on India .