SEOUL, South Korea (AP) - Xiaomi Corp. says it seeks to raise up to $6.1 billion in the upcoming initial public offering that would value the Chinese smartphone maker at as much as $70.3 billion.

The details of the Hong Kong IPO released Saturday show the Beijing-based company will raise less than an earlier expectation of up to $10 billion that would have valued the company at $100 billion. But it will still be among the biggest tech IPOs since Chinese e-commerce giant Alibaba raised $21.8 billion in 2014.

Xiaomi shares will start trading on the stock exchange in Hong Kong on July 9 under the ticker of 1810.HK.

The 8-year-old company that also makes robot vacuum cleaners and TVs is a star among Chinese unicorns, a startup valued at more than $1 billion.

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