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Xiaomi's weak debut signals trouble for upcoming Hong Kong tech listings

July 9, 2018 10:13 AM
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Xiaomi's weak debut signals trouble for upcoming Hong Kong tech listings

HONG KONG (Reuters) - Xiaomi Corp made a weak debut in Hong Kong on Monday, with the Chinese smartphone maker’s shares sliding as much as 6 percent on valuation concerns, in an ominous sign for its technology sector peers lining up listings in the city.

A packed initial public offering (IPO) calendar in the coming months will include a $4 billion deal from online food delivery-to-ticketing services platform Meituan Dianping and an up to $10 billion IPO from China Tower, the world’s largest mobile tower operator.

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