Xiaomi became the third largest manufacturer of smartphones

The other day, an initial public offering (IPO) of Xiaomi was held on the stock exchange in Hong Kong. On the first day, the company’s shares fell 1.2 percent below the placement price, but today it has risen sharply by 14 percent, to HKD 19.14 ($ 2.44 equivalent).

Thus, the company’s capitalization reached $ 54.17 billion, which made the Chinese newcomer the third most expensive company among smartphone manufacturers. True, with one caveat: from those companies that sell their shares on the stock exchange. For example, the market capitalization of Apple is $ 923 billion, and Samsung – $ 304 billion.

Nevertheless, Xiaomi expected to get a higher rating and start trading shares at a price of 22 Hong Kong dollars, but the stock exchange had to go out with shares of 17 Hong Kong dollars each. However, the company has everything ahead. She is already thinking of a new brand that will allow her to begin formal expansion into the US and Europe.

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