The company said 1 billion shares were sold at HK$23.70 each as part of the top up deal that was carried out overnight. The final price was a 9.4 per cent discount to Xiaomi’s closing price of HK$26.15 on Tuesday. Xiaomi did not immediately respond to a Reuters request for comment on why the deal was not announced until lunchtime. When the stock resumed trading it fell by nearly 12 per cent before paring losses to close down 7.1 per cent at HK$24.3, the lowest since Nov. 18. Xiaomi’s deal was the largest top-up placement in Hong Kong to date, surpassing one by CNOOC Ltd which raised $1.9 billion in 2006, Dealogic data showed.

Source: Dhaka Tribune December 02, 2020 16:29 UTC