Xiaomi announces $5.4bn share placement and subscription

Xiaomi Corp (HKEX: 1810) announced a placing of existing shares and a top-up subscription of new shares under a general mandate, aiming to raise approximately HK$42.6 billion (approximately $5.4 billion USD). The company will place 800 million existing shares, beneficially owned by a selling shareholder, at a price of HK$53.25 per share. Simultaneously, the seller will subscribe for an equal number of new shares at the same price.