Xiaomi’s Hong Kong IPO raises $4.7 billion after pricing at low end

Xiaomi’s Hong Kong IPO raises $4.7 billion after pricing at low end

Xiaomi Corp. and some existing investors raised $4.7 billion after pricing a Hong Kong initial public offering at the low end of a marketed range, a person with knowledge of the matter said. The Beijing-based smartphone maker priced the sale of 2.18 billion shares at HK$17 each, the person said, asking not to be identified because the details are private. Xiaomi had offered the shares at HK$17 to HK$22 apiece. The pricing values Xiaomi at about $54 billion, roughly half the company’s initial goal. Billionaire George Soros and Chinese investment…

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Panic Button: Telecom Minister to talk about Pricing problems With mobile Makers

Panic Button: Telecom Minister to talk about Pricing problems With mobile Makers

Amid worries that government’s move to make panic button obligatory will increase cost of cell handsets, telecom minister Ravi Shankar Prasad Thursday said he’s going to absorb the problem up with the industry. “i’m able to communicate to them. India is a big marketplace. for your data, i have mentioned this with all people. Manufactures who apprehend this have given their aid. My expectation is that they will render their aid in social justice and ladies protection,” Prasad told newshounds Thursday. government has mandated that each one mobile telephones to…

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Odd-Even Rule: Uber Temporarily Suspends Surge Pricing In Delhi

Odd-Even Rule: Uber Temporarily Suspends Surge Pricing In Delhi

Taxi aggregator Uber has put a temporary suspension on its controversial surge pricing on the ‘first working day’ of the second implementation of the odd-even rule for cars in Delhi. Chief Minister Arvind Kejriwal on Monday had warned taxis against surge pricing – through which taxi aggregators like Uber and Ola raise prices to cater to higher demand. “Given the threat of the Delhi government to cancel permits and impound vehicles of our driver partners, we are temporarily suspending surge in Delhi with immediate effect,” said Gagan Bhatia, General Manager,…

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Vitara Brezza’s Pricing Could Catapult Maruti In SUV League

Vitara Brezza’s Pricing Could Catapult Maruti In SUV League

Maruti is counting on the success of Brezza to make it a dominant player in the utility-vehicle space Maruti Suzuki, which launched its all-new Vitara Brezza model on Tuesday, will benefit from the compact SUV’s aggressive pricing, says Ambit Capital Research. “Brezza has been launched at a starting price of Rs. 6.99 lakh (for the base LDi model). This is around 15 per cent cheaper than the entry-level model of EcoSport and close to 4 per cent cheaper than the entry-level TUV300 model,” the brokerage said. Ambit estimates the Vitara…

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