Xiaomi reportedly plans to conduct a share sale which could net the vendor $5.3 billion, as the company looks to capitalise on growth in 2024 and fund further electric vehicle (EV) development.
Company documents seen by Bloomberg show plans to sell 750 million shares, though the news organisation highlighted Xiaomi is looking to price these below the level at the latest close of trading in Hong Kong.
Bloomberg predicted a price range of between HKD52.80 ($6.79) and HKD54.60 per share. The news agency noted Xiaomi’s share value grew steadily from a low point in August 2024 due to success in China’s EV sector.
Xiaomi exhibited its SU7 Ultra during the recent MWC25 Barcelona having unveiled the original model at the same event in 2024.
EV sales were credited with motoring Xiaomi to a bumper 2024, with smartphones also continuing to play a key role in financial gains.
Bloomberg stated Xiaomi’s success in the EV market is due to applying its smartphone nous to the segment.
The news outlet noted the company increased EV targets for 2025, part of a broader hefty investment over a ten-year period which began in 2021.
Comments