Xiaomi, one of China’s biggest electronics company, has recently made its debut in Hong Kong with its newest smartphone but, the result was not what they have expected.
Amid the trade war between China and the United States, Xiaomi still decided to make its debut in Hong Kong – might not have been a good idea for some.
Xiaomi raised about $4.7 Billion at the beginning of its release, marking it as the third largest listing when it comes to mobile phones. The company is currently worth about $53 Billion, half of the value they have hoped earlier this year.
Many have anticipated Xiaomi’s stock market listing in Hong Kong but it is quite disappointing that they failed to reach their goal. The company has lost about 6% of its shares during the opening in Hong Kong and is considered a bad start since it was not the result they were looking forward to.
The company has a debut price of HK$17 and they only recovered about HK$16.96, still not enough to get back what they had lost.
Xiaomi with its goal to become a global phenomenon in terms of mobile phones and other electronic devices has a lot to prove now and in the future.