Xiaomi is going public

Dubbed the “Apple of China”, Xiaomi is going public. Chinese technology company Xiaomi is the fastest-growing smartphone vendor in the world. One of China's unicorns, it is best known for its low-cost smartphones. Not content with boasting the fourth-highest market share both globally and in China, the company is exceptionally positioned to dominate Asia, and also has aggressive expansion plans for Europe and the USA. Xiaomi’s IPO ranks as the second-largest IPO worldwide in the first half of 2018. The smart phone giant is expected to settle for a $6 billion raise at a valuation range of $54 billion to $70 billion. While valuation in relations to peers is high, celebrated investors such as George Soros, Capital Group Cos. and Hillhouse Capital are participating in the IPO, according to Bloomberg news. The Beijing-based smartphone maker increased its Chinese market share from 8.9% to 12.4% in 2017, indicating how exciting the outlook for this young company really is.