Xiaomi's Remarkable Fundraising Breaks New Ground

In a stunning financial move, Xiaomi has successfully raised a jaw-dropping HKD42.5 billion (approximately USD5.5 billion) by selling 800 million shares. This monumental achievement took place on March 27, shortly after the company’s impressive growth trajectory.

A Historic Milestone in the Hong Kong Market

This fundraising marks the third-largest 'lightning round' fundraising in Hong Kong's market history, right after BYD's record HKD 43.5 billion placement completed on March 11 and Meituan's impressive HKD 54.2 billion placement finalized back in April 2021.

Expert Legal Counsel Behind the Scenes

Navigating such a colossal transaction required top-tier legal expertise. The deal saw guidance from prestigious law firms including Skadden, Jingtian & Gongcheng, Latham & Watkins, JunHe, and Zhonghao Law Firm. Skadden served as the international legal counsel, with Paloma Wang, co-head of the firm's China practice, steering the ship alongside her partners Wu Yuting and Brian Egan, who provided counsel on U.S. securities law and matters involving the U.S. Foreign Investment Committee.

PRC Law Advisers at the Forefront

Additionally, Jingtian & Gongcheng played a crucial role by advising Xiaomi on aspects of PRC law, reinforcing the legal foundation for this blockbuster fundraising. Zhanghao's managing partner Lin Yang also lent his expertise to ensure compliance and facilitate the transaction.

As Xiaomi continues to soar, this fundraising victory not only underscores the company's resilience in the market but also highlights the robust legal support that propels such ambitious endeavors.