Xiaomi’s Founder, Chairman and CEO Jun Lei, center, poses with Senior Vice President and CFO Chew Shouzi, left, and Co-Founder, Executive Director and President Lin Bin at a news conference in Hong Kong, Saturday, June 23, 2018. Xiaomi Corp. said it seeks to raise up to $6.1 billion in its initial public offering next week that would value the Chinese smartphone maker at as much as $70.3 billion. (AP Photo/Kin Cheung)
SEOUL, South Korea — Xiaomi Corp. plans to raise up to $6.1 billion in one of the biggest global stock market debuts as it tries to become a worldwide brand alongside Apple, Google and Amazon.
The initial public offering in Hong Kong would value the Beijing-based company at as much as $70.3 billion, according to details released Saturday.
Xiaomi will raise less than an earlier expectation of up to $10 billion that would have valued the company at $100 billion. But it will still be among the biggest tech IPOs since Chinese e-commerce giant Alibaba raised $21.8 billion in 2014.

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