Xiaomi raises HKD 24 billion in IPO

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(Telecompaper) Xiaomi has raised HKD 24 billion (EUR 2.6 billion) in net proceeds from its initial public offering of shares, after pricing the IPO at the low end of the expected range. Despite the offering being over-subscribed, the company priced the shares at HKD 17 each, the bottom of the indicated range of HKD 17-22. The stock will start trading on 09 July in Hong Kong. 
Source: Industry News (syndicated from Telecompaper.com)