The Qualcomm-backed electronics maker will float the bottom of its range, in an offering that is still the largest for a tech company since 2014.
China-based consumer electronics producer Xiaomi, which counts mobile semiconductor maker Qualcomm as an investor, is set to raise $4.72bn in its initial public offering, sources told Bloomberg and Reuters today.
The company priced roughly 2.18 billion shares at the low end of the HK$17 to HK$22 ($2.17 to $2.80) range it had previously set. The price values Xiaomi at about $54bn, and it will float on the Hong Kong Stock Exchange.
Founded in 2010, Xiaomi designs and manufactures smartphones as…
