Trading below the issue price suggested that investors still felt the valuation of the stock was relatively high as compared with Tencent and Apple. - Linus Yip, chief strategist at First Shanghai SecuritiesXiaomi’s HK$ 17 price is a multiple of 39.6 times of its 2018 earnings, with Apple trading at 16 times and Tencent at 36 times. This comes amid the US-China trade dispute and Hong Kong’s stock market itself going through a nine-month low in the last week. Xiaomi targeted upping investor sentiments via this IPO and the offering of the platform Meituan Dianping that covers online food delivery and ticketing services. Hong Kong stock exchange chief executive Charles Li said on how low pricing of Xiaomi and other tech firms will affect the IPOs under new rules: "We cannot put a brake. The market is always open. It's open to everybody...If you don’t like the price, you can stay away."
India Coronavirus Cases Update 216,919 Total 6,075 (2.8%) Deaths 104,107 (48.0%) Recovered
04 Jun 2020, 7:08 AM (GMT)