Chinese technology giant Xiaomi is readying flotation plans as Hong Kong Exchanges and Clearing (HKEX) unveils major changes to its listings rules with the aim of winning a string of blockbuster initial public offerings with multibillion-dollar valuations.
The Hong Kong stock exchange is poised to publish big changes to its listing regime on Tuesday in a bid to attract more “innovative” technology companies, as well as companies that have floated overseas, to list on the venue.
Xiaomi is one of the Chinese technology companies finalising plans to float, with Hong Kong its most likely destination, according to two bankers close to the plan. The company is expected to file its IPO application as early as May, after HKEX has published its rules and allows for applications under the new regime, the sources said. Xiaomi declined to comment.