Caixin
BUSINESS & TECH

Xiaomi Speeds Up Timetable for IPO to 2018, Sources Say

By Bai Jinlei and Han Wei
Strong sales in India have boosted Xiaomi’s performance this year. Above, customers check out Xiaomi phones at a store in New Delhi. Photo: Visual China
Strong sales in India have boosted Xiaomi’s performance this year. Above, customers check out Xiaomi phones at a store in New Delhi. Photo: Visual China

Chinese smartphone maker Xiaomi Inc. is preparing for an initial public offering (IPO) next year, separate sources close to the company told Caixin.

“(The IPO) will be at an overseas market,” one person with knowledge of the matter said Wednesday.

Market speculation began building for an earlier-than-expected IPO after a technology website reported late last week that Xiaomi was accelerating the timing for its public offering. Xiaomi’s founder and CEO Lei Jun late last year had signaled the company wouldn’t go public until about 2025.

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