Business

Xiaomi seeks raise up to US$4 billion - term sheet

Chinese smartphone maker Xiaomi Corp is aiming to raise up to US$4 billion in an equity and convertible bond deal launched in Hong Kong on Tuesday, according to a term sheet seen by Reuters.

FILE PHOTO: Attendants are silhouetted in front of Xiaomi's logo in Beijing
FILE PHOTO: People are silhouetted in front of Xiaomi's logo at a venue in Beijing, May 10, 2016. REUTERS/Kim Kyung-Hoon/File Photo

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HONG KONG: Chinese smartphone maker Xiaomi Corp is aiming to raise up to US$4 billion in an equity and convertible bond deal launched in Hong Kong on Tuesday, according to a term sheet seen by Reuters.

The company is selling 1 billion shares in a top-up transaction priced between HKUS$23.70 and HKUS$24.50, the term sheet showed.

A convertible bond deal to raise US$855 million is also underway, according to the term sheet.

Xiaomi did not immediately respond to a request for comment.

(Reporting by Scott Murdoch; editing by Andrew Heavens)

Source: Reuters