Hong Kong retail investors give Xiaomi’s IPO the cold shoulder, put off by high financing cost and valuation

Xiaomi’s US$6.1 billion initial public offering was subscribed to by Li Ka-shing, Jack Ma Yun and Pony Ma Huateng, but given the cold shoulder by most of Hong Kong’s retail investors, an ominous sign for the city’s bellwether fundraising attempt of 2018.
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