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Report: Is Xiaomi preparing to go public?
Following its latest round of fund raising, Xiaomi was valued at $46 billion, making it one of the most valuable growing technology companies in recent history, exceeded only by Facebook. ifeng.com, a news website run by Hong Kong’s Phoenix TV network, reports that Xiaomi may now be preparing to publicly float the company on either the Hong Kong or US stock exchange.
According to the report, Xiaomi is weighing up its options between Hong Kong and the US and will likely make a decision based on whichever offers the highest valuation. The company is also said to have been offered various IPO packages by investment banks. Despite its high valuation recently, sources are sceptical that Xiaomi would be able to match Allibaba’s record breaking $25 billion IPO in New York last year.
Back at the Xiaomi brand’s founding in April 2010, CEO Lei Jun, a 70 percent shareholder, stated that the company would not be listed on the stock market for at least five years. With that time frame coming to an end and Xiaomi looking for additional investment to fund regional expansion and its growing product line-up, the time might be right for the company to go public.
Perhaps Xiaomi will reveal something along these lines at its press event in San Francisco next week?