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11 Ιουνίου 2018

Xiaomi posts $1 billion first quarter loss ahead of blockbuster IPO

Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing.

That compares with a net loss of 43.89 billion yuan for the whole of 2017, according to its draft prospectus for what is expected to be the first Chinese depository receipts (CDR) offering.

The eight-year-old company has begun gauging demand for a first-time share sale intended to fuel its expansion beyond China and bankroll the development of devices and media services. 


It also published its first prospectus for the sale of China Depositary Receipts in Shanghai on Monday, saying it plans to use about 40 percent of the proceeds to enlarge its global footprint. Sources: CNBC and Bloomberg Συνδεθείτε μαζί μας στο Facebook και ενημερωθείτε πρώτοι για τα νέα άρθρα -->
Xiaomi posts $1 billion first quarter loss ahead of blockbuster IPO
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