Xiaomi launches $5.3 billion share sale to boost electric-vehicle business.

From Yahoo Finance: 2025-03-24 06:49:00

Xiaomi Corp. launches share sale expecting to raise up to $5.3 billion to boost its electric-vehicle business. The company is offering 750 million shares at a discount of 4.2% to 7.4% from the stock’s last close in Hong Kong, following a successful year for share sales in the city.

Xiaomi is aggressively investing in its EV business, with plans to increase its 2025 delivery target and expand its second electric car factory in Beijing. The company’s stock has more than tripled since August, attracting global investors and positioning Hong Kong for a record quarter in share sales.

The share sale is expected to help Xiaomi accelerate business expansion and invest in research and development to enhance technological capabilities. Hong Kong has seen a significant increase in equity deals this year, with expectations high for more companies to tap into the equity markets.

Read more: Xiaomi Seeks $5.3 Billion in Share Sale to Fund EV Expansion