Beijing time on December 4 evening news, Bloomberg quoted informed sources today that millet companies are working with investment banks to discuss potential IPO (initial public offering) matters, seeking at least 50 billion US dollars valuation.
The insider said that millet is considering IPO matters, the earliest next year listed, while the investment bank recommended Xiaomi IPO in Hong Kong.
Informed sources also said that a number of investment banks hope to become an underwriter of the millet IPO, but at the same time, they also worried about the valuation of millet can reach 500 billion US dollars last round of financing millet occurred in 2014, when the valuation 46 billion U.S. dollars.
Xiaomi has regained its strength in recent months after suffering strong challenges from Huawei and Oppo, a Chinese home-grown smartphone maker that is aggressively expanding into the Indian market and is likely to surpass Samsung in the market.
A person familiar with the matter said a successful IPO would bring at least $ 5 billion in 'ammunition' support for millet, something the company desperately needed for the expanding millet.
Today, Xiaomi CEO Lei Jun said at the World Internet Conference held in Wuzhen: 'We are going to migrate the business philosophy in the Chinese market to other countries. In India, we have already made a miracle and we are the first to have it in three years.'
For IPO matters, millet spokesman said the company does not comment on the IPO plan.
In fact, Silicon Valley technology media The information also reported earlier this month that millet will be listed as early as next year.
For the valuation of 50 billion US dollars IPO, some analysts said Xiaomi may reach such a valuation, depending on the business performance of millet, as well as market trends in the coming months.
In addition to bringing enough money to the company, millet IPO also helps retain talent at the beginning of this year, Xiaomi vice president Hugo Barra (Hugo Barra) has left, to return to Silicon Valley, joined Facebook.
James Yan, a consulting services analyst at Counterpoint, said: "Millet employees also want to hear about the company's final IPO plan."
At present, Xiaomi is vigorously promoting international expansion, especially in the Indian market, and Lei Jun said in March that Milo will double its investment in the Indian market and re-invest 500 million U.S. dollars in the next 3-5 years.
Lei Jun said: 'We have seen the rise of China's brand in the next 10 years, there will be more Chinese brands to grow and develop, go international, the trend is obvious.'