The Qualcomm and NGP-backed electronics producer is reportedly seeking a $100bn valuation for the Hong Kong offering.

China-based smartphone maker Xiaomi filed for an initial public offering in Hong Kong today that the South China Morning Post reported will be $10bn in size.

Xiaomi, which counts mobile chipmaker Qualcomm and the Nokia-backed NGP Capital among its investors, did not reveal its target for the offering or its proposed valuation in the filing, but bankers familiar with the plan told the Post the figure along with a proposed valuation of $100bn.

Founded in 2010, Xiaomi is bets…