Xiaomi, a Chinese Start-Up, Picks Hong Kong for a Major I.P.O.

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A Xiaomi store in Shenyang, China. Xiaomi, the world’s fourth-largest smartphone maker, filed on Thursday to list its initial public offering on Hong Kong’s stock exchange instead of on the mainland.

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via Reuters

HONG KONG — Xiaomi, the Chinese gadget maker that has become one of the world’s largest smartphone companies, has picked Hong Kong to list its shares in what is widely expected to be a major initial public offering.

The choice is a victory for the Chinese city, which missed out on blockbuster stock offerings by Alibaba and other rising internet companies in mainland China in recent years. Just days ago, officials at Hong Kong’s stock exchange had…

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