Smartphone maker Xiaomi raises nearly $4 billion via bond and share sales in biggest top-up fundraising in Hong Kong

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Chinese smartphone maker Xiaomi raised nearly $4 billion in a combined sale of shares and convertible bonds in the biggest top-up funding placement in Hong Kong, according to a filing to the city’s stock exchange.

The smartphone maker raised $3.1 billion selling shares for HK$23.70 ($3.06) each, the low end of an expected price range. That price represented a 9.4 per cent discount to Xiaomi’s closing price of HK$26.15 on Tuesday.

Xiaomi raised another $855 million selling a seven-year, zero coupon convertible bond, with . . .

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