Xiaomi Corp. aims to seek formal Hong Kong stock exchange approval on June 7 for an initial public offering that could raise about $10 billion, people with knowledge of the matter said.
The Beijing-based smartphone maker hopes to price the share sale late next month if its application is approved by the bourse’s listing committee, according to one of the people. The timing for the so-called listing hearing could slip, depending on the volume of questions from the exchange ahead of the meeting, another person said, asking not to be identified because the information is private.
Xiaomi, led by serial entrepreneur Lei Jun, is one of the most anticipated deals in what’s expected to be a banner year for Hong Kong IPOs. The listing, which could become the world’s biggest first-time share sale since 2014, is expected to mint dozens of new millionaires from the early employees who bought stock in Xiaomi.
The company has recently been discussing a potential IPO valuation of around $60bn to $70bn, people familiar with the matter have said. Xiaomi was the first to file for a Hong Kong IPO with a weighted-voting rights structure after the city’s bourse changed rules last month.
A representative for Xiaomi declined to comment.
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Xiaomi opened its first store in Paris this week and is planning more shops in France, Spain and Italy, Senior Vice President Wang Xiang said in a Tuesday interview in the French capital. It does not currently sell phones in the U.S. but ships products such as portable chargers and electric micro-scooters through Amazon.com Inc. and Walmart Inc.
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Everton 1 Stoke City 0
Everton (Rooney 45 1')
Man of the Match Phil Jagielka (Everton)
Company%20Profile
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SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
