Xiaomi, which raised money at a $45 billion valuation in 2014, could be the biggest IPO since Alibaba Group Holding Ltd’s $25 billion debut. Photo: BloombergBeijing: Xiaomi Corp. selected Morgan Stanley and Goldman Sachs Group Inc. among international banks for its planned initial public offering, a person with direct knowledge of the matter said. Xiaomi, which raised money at a $45 billion valuation in 2014, could be the biggest IPO since Alibaba Group Holding Ltd’s $25 billion debut. The company topped its annual 100 billion yuan ($15 billion) sales target by the end of October. Shares of Xiaomi rivals fell in early Hong Kong trading.

Source: Mint January 15, 2018 03:56 UTC