Xiaomi takes about 4 billion euros with the IPO

Shares of Chinese manufacturer Xiaomi have traded on the Hong Kong Stock Exchange since today. The issue price of 17 Hong Kong dollars was reduced during trading to 16 dollars, but rose shortly before the end of trading to just under 16.80 dollars. The fourth largest smartphone maker in the world has released about four billion euros with the IPO. Its market value is 375.91 billion Hong Kong dollars, which corresponds to about 40 billion euros.

The IPO was held in a challenging market environment. The trade dispute between the United States and China has reduced the stock index in Hong Kong by 5.8% since the beginning of the year. The problematic environment already provided for an issue price, which was at the lower threshold. Originally, the company listed its shares between $ 17 and $ 22.

But not only the difficult market environment has helped investors for the doubt. The financial data mentioned by Xiaomi convinced the brokers no. Xiaomi made a loss of 5.75 billion euros last year. In contrast, sales rose 67.5% to 15 billion euros. Especially in India, Xiaomi has been able to sell a lot more smartphones, surpbading even world market leader Samsung .

"I think that the price of short-term equities depends mainly on market conditions, and we will focus on the long-term growth of our business," said Lin Bin, president and co-founder of Xiaomi, CNBC Monday.

Xiaomi began operations in 2010 and is led by Lei Jun. The other founders are Lin Bin, Li Wanqiang, Zhou Guangping, Huang Jiangji, Liu De and Hong Feng, who are the vice presidents of the Company

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