Xiaomi Raises $4 Billion in Biggest Ever Hong Kong Top-up Fundraising

Xiaomi raised nearly $4 billion in a combined sale of shares and convertible bonds in the biggest top-up funding placement in Hong Kong history to help combat the financial challenges of the pandemic.

Xiaomi raised $3.1 billion selling shares for HK$23.70 ($3.06) each, and $855 million selling seven-year, zero-coupon, convertible bonds with a conversion premium 55% above the reference share price.

The company’s shares have more than doubled in value since the start of 2020.

The fundraising follows Xiaomi reporting a 34% increase in third quarter revenue, as it focuses on international expansion.

Source: ABS-CBN