Xiaomi seeks raise up to $4 billion - term sheet

Credit: REUTERS/Kim Kyung Hoon

Chinese smartphone maker Xiaomi Corp is aiming to raise up to $4 billion in an equity and convertible bond deal launched in Hong Kong on Tuesday, according to a term sheet seen by Reuters.

HONG KONG, Dec 1 (Reuters) - Chinese smartphone maker Xiaomi Corp1810.HK is aiming to raise up to $4 billion in an equity and convertible bond deal launched in Hong Kong on Tuesday, according to a term sheet seen by Reuters.

The company is selling 1 billion shares in a top-up transaction priced between HK$23.70 and HK$24.50, the term sheet showed.

A convertible bond deal to raise $855 million is also underway, according to the term sheet.

Xiaomi did not immediately respond to a request for comment.

(Reporting by Scott Murdoch; editing by Andrew Heavens)

((Scott.Murdoch@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More