From Yahoo Finance: 2025-03-24 18:25:00

China’s Xiaomi Corp raises $5.5 billion in share sale for electric vehicle plans. Sold 800 million shares at HK$53.25 each, with share price up nearly 150%. Xiaomi moved into EV manufacturing last year, selling 135,000 SU7 sedans in 2024. Plans to start shipping cars overseas in 2027. Top 20 investors took 66% of shares in sale. Shares down 5.3% in Hong Kong. Xiaomi aims to invest 7-8 billion yuan into AI. Story Continues: Chinese tech firms raise $16.8 billion in Q1 equity market activity. Summit with President Xi Jinping signals easing government scrutiny of tech sector. ($1 = 7.7742 Hong Kong dollars, $1 = 7.2531 Chinese yuan)



Read more at Yahoo Finance: China’s Xiaomi raises $5.5 billion in share sale as EV plans ramped up