Xiaomi shares closed at HK$16.80, having touched a low of HK$16 in early trade, compared to the IPO price of HK$17 per share. The stock opened at HK$16.60, below the list price of HK$17, and it quickly fell to HK$16 before later recovering.
Today, July 9, was the first day for Xiaomi on the Hong Kong Stock Exchange, with the stock closing at $2.14, giving the Chinese smartphone manufacturer a valuation of almost $50 billion, though it should be noted that this is half the market capitalization of $100 billion that was expected from the IPO.
In June, we said that Xiaomi was looking to raise about $5 billion (HK$39.22 billion) from shares, while it didn't meet its goal in the first day of trading, it is over half way there and maybe things will pick up for the unique firm.
Despite Xiaomi's challenging debut, Reuters notes that Hang Seng - the Hong Kong stock market index - was 1.7 percent higher.
Xiaomi's founder Lei Jun described his company's business model as a "triathlon model" with three components; third-party hardware sales, smartphone sales, and "internet service" sales which include media and ads.
The Xiaomi float adds to Hong Kong's $7 billion worth of new listings so far this year. It is also the first under the city's new rules permitting dual-class shares, common among USA tech firms, in an attempt to attract tech sector floats.
"We are an internet firm".
Shares of some other tech-related companies that floated recently have been weak in Hong Kong.
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.
Xiaomi focuses on low-cost, high-performance smartphones and touts an innovative business model that features online services, a range of consumer electronics products built by partner firms, and a retail strategy that includes a network of physical stores.
The company is now the biggest smartphone vendor in India and is pushing into European markets including Spain and Russian Federation, though it has lost share in China recently to lower-cost rivals.
But the London Ambulance Service reacted with disappointment to the celebrations, saying fans should be "better than this". But even if the insurance company pays for the repairs, all money raised will still go to the London Ambulance Service.
The New York Times reported Sunday that Trump found Kethledge a little tiresome and anxious about his record on immigration. Trump is expected to pressure recalcitrant Senate Democrats into supporting his nominee by holding rallies in their states.
There will be 100,000 tickets and 70,000 of them are free for you to earn by doing your bit to alleviate poverty in society. The event will be hosted by Oprah Winfrey, Naomi Campbell , Gayle King, Bob Geldof, Tyler Perry and Forest Whitaker.
Gadot, 33, is filming the " Wonder Woman " sequel " Wonder Woman 1984 " nearby, in and around Washington, D.C. Finally, we got a little sneak peek at the title character as Gadot posted pics of the character.
Here he was playing around with Mannarino but the drop in pace allowed the 22nd seed to get a foothold in the match. Rafael Nadal cruised into the last 16 with a dominant 6-1, 6-2, 6-4 triumph over Australian Alex de Minaur.
The earliest reported symptoms in this outbreak began on May 14 and those who are ill range in age from 13 to 79 years old. The FDA has not yet identified ingredients linked to the outbreak, saying only that each component is under investigation.
The possibility that the two investigations might be linked is "clearly a key line of inquiry for police", the Met said . The 44-year-old was found unconscious at a residential address along with her partner Charlie Rowley, on June 30 .
Authorities have said the mission could take three or four days to complete. "If something changes, we'll stop", he said. The divers also brought out touching notes for the families written by some of the trapped boys.
Legendary 1950's Actor Tab Hunter Dies At Age 86
Hunter was born Arthur Andrew Kelm on July 11, 1931, in New York City, but later moved to California when he was young. Glaser told the Los Angeles Times that Hunter collapsed in his arms at their home, and he was rushed to the hospital.
Who is Supreme Court contender Amy Coney Barrett?
Gorsuch, who worked at the Justice Department in 2005 and 2006, had a smaller set of executive branch documents for review. The nominee must be confirmed by the US Senate, which the Republican president's party narrowly controls 51-49.
Family: Woman on oxygen dies after power cut off to her home
Daniels passed away" and that they tried at least 15 times to contact the family about their bill over the past seven months. A PSE&G utility truck finally arrived Friday morning, but Daniels had already died 16 hours earlier, her daughter said.
President Trump announces Supreme Court pick
Without Republican defections, however, Senate rules leave Democrats with scant options to block confirmation of Trump's nominee. All four federal judges have the endorsement of major Republican legal groups, most importantly the powerful Federalist Society.
Iranian teen arrested for dancing on Instagram
Hojabri recorded and posted around 300 videos on Instagram of herself dancing in what Iran would deem an "immoral" manner. In some of the videos, she appeared without the mandatory headscarf or hijab.
It’s a European revolution at this World Cup
And on that basis, the golazos so far at the 2018 World Cup are certainly up there with those at any previous tournament. The Chelsea star has been involved in 14 goals in his past 14 internationals, with eight goals and six assists.
White Ferns struggle in opening ODI defeat to England
This is now England's highest total against New Zealand, bettering 284 for 9 made in the World Cup clash in Derby a year ago . Beaumont was the first wicket to fall when Lea Tahuhu had her caught behind in the 23rd over.
Trump says the U.S
Met with resistance from nations around the table, USA delegates began threatening, according to other officials at the summit. They also sought to hinder World Health Organization efforts to provide lifesaving medications to undeveloped countries.
SUPREME SHOWDOWN: Trump Teases 'EXCEPTIONAL' Court Pick
Casey supported Hardiman's appointment to the Third Circuit in 2007, saying he was well qualified to serve on that court. The appeals court, though, upheld the net neutrality rules, but the Trump-era FCC has since repealed majority .
Timehop Data Breach Affects 21 Million Users
Also not entirely clear from Timehop's blog post: When/if affected users were notified their information has been breached. Timehop revealed that its security was breached and that the data of 21 million users was compromised.