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【创汇精选文章】How to Make a 56,823% Return With Hong Kong's Worst Ever IPO

发布日期:2019/1/11 11:27:58

本文转载:彭博商業周刊


Lei Jun, Xiaomi Corp. founder, chairman and CEO, discusses sales in China, expansion plans in Europe, and revenue.


Xiaomi Corp. is a perfect example of how taking a company public can make a select number of shareholders a lot of money, even if the IPO flops.



The stock lost about 30 percent in the six months that followed its Hong Kong debut, making it the city’s worst-performing initial public offering with a value of at least $3 billion, according to data compiled by Bloomberg. Selling pressure intensified this week after a mandatory holding period for some investors expired Wednesday.


For those who snapped up stock in Xiaomi’s earliest funding round, offloading the shares this week still proved to be hugely profitable. They paid as little as 1.95 Hong Kong cents for a slice between September 2010 and May 2011, according to the Beijing-based company’s prospectus. Almost 4 billion shares were sold at that price. Early holders could have pocketed a 56,823 percent profit if they sold at Tuesday’s close of HK$11.10.


Click here for more on Xiaomi’s bad week


You can’t blame investors for rushing to lock in those gains before things get worse for Xiaomi. Analysts have been trimming their profit and sales forecasts, blaming China’s slowing smartphone market and intensifying competition. Xiaomi was one of the most hyped IPOs of 2018, with bankers initially touting a valuation of as much as $100 billion. The company’s market capitalization has dropped to about $30 billion.


— With assistance by Jeanny Yu


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本文转载:彭博商業周刊

原文地址:https://www.bloomberg.com/news/articles/2019-01-10/how-to-make-a-56-823-return-with-hong-kong-s-worst-ever-ipo