The Chinese company Xiaomi has taken $ 5.5 billion through stock sales. The third largest smartphone manufacturer in the world wants to finance its expansion plans. According to its own statements, the company sold 800 million shares of $ 53.25 each. Xiaomi had entered the production of electric vehicles last year. The company had originally planned to sell 750 million shares, but increased the scope of the transaction during the book building process. The final price was at the lower end of the price range of 52.80 to 54.60 Hong Kong dollars, which the investors were given when the transaction was presented on Monday. The price was a discount of 6.6 percent compared to the final course of Xiaomi of $ 57 Hong Kong on Monday.
Most recently, Xiaomi had made headlines with his electric car business. The first model, the SU7, overhauled the sales figures in December in December China The Tesla Model 3. Xiaomi President Lu Femhing recently announced that they would also want to conquer international markets from 2027. For the expansion of its e-car development, Xiaomi is now increasingly focusing on former BMWEngineers. Five new experts with experience in design and aerodynamics have been set for a new research center, further positions are open.
Last year, Xiaomi converted 32.1 billion Yuan with its vehicle production and delivered over 135,000 SU7 models. The new investments are intended to help increase the production goal for 2024 from 300,000 to 350,000 vehicles.