Xiaomi to Raise $5.27 Billion Through Share Sale
Chinese smartphone and electric vehicle manufacturer Xiaomi Corporation has announced plans to raise $5.27 billion through a share sale. Reuters reported this information on Monday, citing a term sheet.
Xiaomi is selling 750 million Class B shares at a discount ranging between 4.2% and 7.4% from the company's closing price on Monday. The proceeds will be used for business expansion, research and technology development, and general corporate purposes.
Recently, Xiaomi increased its annual electric vehicle delivery target to 350,000 units. The company is also expanding its store network in China and plans to open 10,000 new "Mi Home" stores over the next five years.
Meanwhile, with regulatory easing in China’s tech sector and the rise of innovative AI developers like "DeepSeek," investors are showing renewed interest in Chinese equities. The share sale is being managed by Goldman Sachs, CICC, and JPMorgan.
