China’s Xiaomi Corp. is buying back stock barely six months after going public in Hong Kong. What’s HappeningLast week, Xiaomi shares hit a record closing low of 9.70 Hong Kong dollars. That means it had lost more than US$20 billion of market value since a high-profile, US$5.4 billion initial public offering in July. Some early backers sold shares after a six-month lockup period expired Jan. 9.

Source: Wall Street Journal January 22, 2019 04:52 UTC