💨 Abstract

Chinese tech giant Xiaomi Corp announced a $5.5 billion share sale on Tuesday, upsized from the initial plan due to strong demand. The company sold 800 million shares at HK$53.25 each, with the funds aimed towards expanding its business. Xiaomi, the world's third-largest smartphone maker and a new entrant into electric vehicle manufacturing, increased the deal size during the bookbuilding process.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖