Xiaomi's IPO flop: Shares fall in Hong Kong debut

Chinese Smartphone Maker Xiaomi Falls in Hong Kong Trading Debut

Some analysts say the share price offering of HK$17 ($2.17) was too high a valuation multiple for the company compared to its competitors like Apple, making the stock too expensive from the onset.

Enthusiasm for Xiaomi may have waned because investors are holding out for other big Chinese tech IPOs on the horizon, Hong said.

"Other IPO candidates will rush to Hong Kong to list before the market sentiment shifts".

The soggy debut performance of the company hasn't come as much of a surprise for some analysts.

France beat Belgium 1-0 to reach final
One change forced on Martinez is at right back where he will have to find a replacement for the suspended Thomas Meunier. France welcome back midfielder Blaise Matuidi after suspension.

Founded in 2010 by entrepreneur Lei Jun, Xiaomi has grown from a start-up in Zhongguancun - China's "Silicon Valley" - to become the world's fourth-biggest smartphone vendor at the end of a year ago, according to International Data Corp.

Despite being one of the most anticipated Chinese technology IPOs this year, Xiaomi saw a disappointing valuation of $54 billion (€46 billion), well below its ambitious $100 billion target.

The IPO pricing valued the firm, which also makes internet-connected home appliances and gadgets, at about $54 billion, nearly half its original $100 billion ambition earlier this year.

Xiaomi sold about 2.18 billion shares, making the IPO the largest in the technology sector since Alibaba Group Holding Ltd raised $25 billion in NY in 2014.

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A Thai Navy SEAL commander told reporters he believed there was "a limited amount of time" left to rescue the soccer team. The boys were dived out from the cave one by one, escorted by two divers at one time.

"No matter how you look at it, it's too expensive for me", said Francis Lun, chief executive officer at brokerage GEO Securities, drawing comparisons between the price-to-earnings ratio of Xiaomi and Apple.

At Monday's closing price the company had a market value of $53.3 billion.

Lei has even described Xiaomi as a "new species" of company with what he describes as a "triathlon" business model combining hardware, internet and e-commerce services. The dispute has its roots in American concerns about China's tech ambitions and its huge trade surplus with the United States.

"From day one, we've set up a dual-class share structure".

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Thankfully England were able to weather the storm: successfully navigating an improved Colombia from earlier in the game. A relieved Southgate said, "It was a night when I knew we were going to get over the line".

Xiaomi struggled in its debut on the Hong Kong stock market Monday morning, with its shares falling by almost 6 percent. Goldman Sachs Group Inc., Morgan Stanley and CLSA Ltd. are leading Xiaomi's IPO as joint sponsors.

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